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1375 Broadway

Alen Mamrout & Joe Mamrout Of American Exchange Group Landlord In $200M Loan For 1375 Broadway
FINANCEDOffice

Alen Mamrout & Joe Mamrout Of American Exchange Group Landlord In $200M Loan For 1375 Broadway

1375 Broadway

$200,000,000

$391/SF

Building Size

511,000 SF

Asset Type

Office

Closing

Jan 2, 2025

AI

The property asset involved in this transaction is located at 1375 Broadway in the Garment District. The asset type is Office, with a total square footage of 511,000. The loan amount secured for this property is $200,000,000, under a note on note financing arrangement.

Summary of transaction details:

The deal involves key representatives including Jon Strain from Sail Harbor Capital, serving as the lender. The landlords, Alen Mamrout and Joe Mamrout, represent the American Exchange Group, while Jordan Roeschlaub, Nick Scribani, Adam Doneger, and Adam Spies from Newmark represent the landlords in this transaction.

Players

Adam Doneger

Newmark

Broker

$50.2B

vol

190 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$71.8B

vol

263 deals

Broker
Sail Harbor Capital
Sail Harbor CapitalLender

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

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93