Deutsche Bank Provides $148.1M Loan For Office Building In East Village
124 East 14th Street, New York City, New York 10003, United States
$148,090,972
$589/SF
Building Size
251,288 SF
Asset Type
Office
Closing
Jun 26, 2022
AI
Located in the East Village market, the property at 124 East 14th Street is a 251,288 square foot office space. The transaction took place on June 27, 2022, and involved a loan from Deutsche Bank to RAL Development Services for an amount of $148,090,972.
Summary of transation details
- Property Type: Office
- Transaction Amount: $148,090,972
- Address: 124 East 14th Street
- Market: East Village
The lender in this deal was Deutsche Bank, while the landlord represented RAL Development Services. Both Robert A. Levine and Spencer Levine were the individuals associated with the property, as seen in the provided image.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93