Shorenstein Properties Secures $350M Loan For 1407 Broadway Office Building In Garment District
FINANCED
$350,000,000
New York
See Similar DealsOffice45,170 SF
Financed 10/04/2019
FINANCED
Shorenstein Properties Secures $350M Loan For 1407 Broadway Office Building In Garment District
1407 Broadway, New York, NY 10018, USA
See Similar DealsOffice45,170 SF
Financed 10/04/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$7,748
Total Square Footage:45,170 SF
Transaction Type:Loan
The property involved in the transaction is located at 1407 Broadway in the Garment District. The asset type of the property is office, with a loan amount of $350,000,000. The property is owned by Shorenstein Properties and the lender for the transaction is Barclays.
Summary of transation details
- Property Type: Office
- Transaction Amount: $350,000,000
- Address: 1407 Broadway
- Market: Garment District
- Landlord: Shorenstein Properties
- Lender: Barclays
The brokers involved in the deal are Geoff Goldstein, Michael Gigliotti, and Christopher Peck from JLL Capital Markets.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$350,000,000.00
Monthly NOI$2,333,333.33
Monthly Debt Service$2,212,238.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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