Signature Bank Provides $70.2M Loan For Office Building At 1226 Broadway, NoMad
FINANCED
$70,252,520
New York
See Similar DealsOffice133,394 SF
Financed 12/10/2020
FINANCED
Signature Bank Provides $70.2M Loan For Office Building At 1226 Broadway, NoMad
1226 Broadway, NoMad, New York, NY, USA
See Similar DealsOffice133,394 SF
Financed 12/10/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$526
Total Square Footage:133,394 SF
Transaction Type:Loan
The office building located at 1226 Broadway in NoMad has recently undergone a closed transaction. The property spans approximately 133,394 square feet and has been acquired through a loan. The loan amount of $70,252,520 was provided by Signature Bank, with Joseph Fingerman serving as the representative of the bank. The transaction took place on 12/10/2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $70,252,520
- Square Footage: 133,394
- Address: 1226 Broadway
- Market: NoMad
In this closed transaction, the landlord of the property is Sabet Management, represented by Alfred Sabet. The acquisition of this office building through the loan was facilitated by Joseph Fingerman from Signature Bank.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,252,520.00
Monthly NOI$468,350.13
Monthly Debt Service$444,043.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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