HSBC Bank Provides $443M Loan For Garment District Office Building
1250 Broadway, New York, NY 10001, USA
$443,000,000
$68/SF
Building Size
6,459,770 SF
Asset Type
Office
Closing
Aug 24, 2020
About this deal
AI
The property involved in this closed loan transaction is an office located at 1250 Broadway in the Garment District. The property spans a total of 645,977 square feet and is owned by the landlord, Global Holdings Group. The loan was provided by HSBC Bank for an amount of $443,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $443,000,000
- Address: 1250 Broadway
- Market: Garment District
- Landlord: Global Holdings Group
- Loan Provider: HSBC Bank
- Square Footage: 645,977
The loan transaction involves the lender, HSBC Bank, and the landlord, Global Holdings Group. They have successfully closed a loan deal for the office property at 1250 Broadway in the Garment District. This significant transaction highlights the financial involvement of HSBC Bank and the role of Global Holdings Group as the landlord in securing the loan.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93