Signature Bank Provides $70.2M Loan For Office Building At 1226 Broadway, NoMad
1226 Broadway, NoMad, New York, NY, USA
$70,252,520
$526/SF
Building Size
133,394 SF
Asset Type
Office
Closing
Dec 9, 2020
About this deal
AI
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.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Alfred Sabet to view all their deals.
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93