Deutsche Pfandbriefbank Provides $90M Construction Loan For 1245 Broadway Office Project In NYC
FINANCED
$90,000,000
New York
See Similar DealsOffice189,000 SF
Financed 03/10/2023
FINANCED
Deutsche Pfandbriefbank Provides $90M Construction Loan For 1245 Broadway Office Project In NYC
1245 Broadway
See Similar DealsOffice189,000 SF
Financed 03/10/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$476
Total Square Footage:189,000 SF
Transaction Type:Loan
Deutsche Pfandbriefbank has provided a $90 million construction loan for the property located at 1245 Broadway in New York City. The asset, an office space measuring 189,000 square feet, is owned by GDSNY. Jordan Roeschlaub and Dustin Stolly from Newmark represented the landlord in the transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $90,000,000
- Address: 1245 Broadway, New York City
- Square Footage: 189,000
- Lender: Deutsche Pfandbriefbank
- Landlord: GDSNY
- Brokers: Jordan Roeschlaub & Dustin Stolly - Newmark
- Loan Type: Construction
This loan transaction involves the office property located at 1245 Broadway in New York City, with a loan amount of $90 million provided by Deutsche Pfandbriefbank. The landlord, GDSNY, was represented by brokers Jordan Roeschlaub and Dustin Stolly from Newmark. This loan will support the construction of the property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$90,000,000.00
Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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