Ullico Provides $85 Million Refinance Loan To Simone Development Companies For Bronx Office Asset
FINANCED
$85,000,000
New York
See Similar DealsOffice282,590 SF
Financed 09/27/2024
FINANCED
Ullico Provides $85 Million Refinance Loan To Simone Development Companies For Bronx Office Asset
1250 Waters Pl
See Similar DealsOffice282,590 SF
Financed 09/27/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$300
Total Square Footage:282,590 SF
Transaction Type:Loan
The property asset involved in the transaction is located at 1250 Waters Pl in the Bronx. This office asset has a total square footage of 282,590. The refinancing loan provided is in the amount of $85,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $85,000,000
- Lender: Ullico
- Landlord: Simone Development Companies
- Brokers: Richard Horowitz & Justin Horowitz - Cooper Horowitz
This transaction features key individuals such as Richard Horowitz and Justin Horowitz representing the broker agency Cooper Horowitz in this refinancing deal. Their involvement highlights the brokerage's role in facilitating the financing of the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$85,000,000.00
Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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