Thorofare Capital Provides $34.5M Construction Loan For Office Building At 132 W. 14th St. In Midtown South
132 West 14th Street
$34,500,000
$582/SF
Building Size
59,278 SF
Asset Type
Office
Closing
Aug 1, 2022
About this deal
AI
The office property at 132 W. 14th St. in Midtown South has undergone a closed transaction. The property spans 59,278 square feet and is owned by KPG Funds. Thorofare Capital provided a construction loan of $34,500,000 for the project.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $34,500,000
- Address: 132 W. 14th St.
- Market: Midtown South
- Lender: Thorofare Capital
- Landlord: KPG Funds
- Brokers: Aaron Niedermayer, Max Herzog, Jackie Ferrer & Joy Dracos - JLL
The deal was facilitated by Aaron Niedermayer, Max Herzog, Jackie Ferrer, and Joy Dracos from JLL, who represented the parties involved in the transaction.
On the Map
$34,500,000
$582/SF
Office
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Players
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Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93