Brookfield Real Estate Finance, Deutsche Pfandbriefbank & Aareal Capital Corp. Provide $385.5M Loan For 513,401 SF Office Property At 1375 Broadway In Garment District
500 7th Ave, New York, NY 10018, USA
$375,000,000
$1,500/SF
Building Size
250,000 SF
Asset Type
Office
Closing
May 30, 2018
About this deal
AI
The property involved in the closed transaction is a located at in the market. The loan for this transaction was provided by Brookfield Real Estate Finance, Deutsche Pfandbriefbank, and Aareal Capital Corp. The landlord in this deal is Savanna. The brokers involved in the transaction are Adam Spies, Alex Hernandez, Adam Doneger, Zachary Kraft, Alex Lapidus, and Steve Kohn.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $385,500,000
- Square Footage: 513,401
The key individuals and companies involved in this deal include Adam Spies, Adam Doneger, Steve Kohn, Alex Hernandez, Alex Lapidus, and their respective agencies. They played a crucial role in facilitating this transaction.
Players
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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93