Fortress Investment Group Grants $79.6M Refinance Loan For Lower East Side Office Building
141 East Houston Street, New York City, New York 10002, United States
$79,600,000
$995/SF
Building Size
80,000 SF
Asset Type
Office
Closing
Mar 23, 2022
About this deal
AI
The office building located at 141 E. Houston St. in the Lower East Side has recently undergone a refinancing deal. The property, spanning 80,000 square feet, was the subject of the transaction.
Summary of transation details
- Property Type: Office
- Transaction Amount: $79,600,000
- Market: Lower East Side
- Lender: Fortress Investment Group
- Landlord: East End Capital - Jonathon Yormak & David Peretz
- Brokers: Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz & Mo Beler - Walker & Dunlop
The financing was provided by Fortress Investment Group. The landlord of the property, responsible for the refinancing, is East End Capital, represented by Jonathon Yormak & David Peretz. Walker & Dunlop acted as the brokers in the deal, with Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, and Mo Beler facilitating the transaction.
On the Map
$79,600,000
$995/SF
Office
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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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93