Bank Of China Provides $450M Loan For 1411 Broadway Office Building In Garment District
1411 Broadway, New York, NY 10018, USA
$450,000,000
$41/SF
Building Size
10,880,740 SF
Asset Type
Office
Closing
Feb 27, 2020
About this deal
AI
The property involved in this closed transaction is an office asset located at 1411 Broadway in the Garment District. The property spans a total of 1,088,074 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $450,000,000
- Lender: Bank of China
- Landlord: Ivanhoé Cambridge, Callahan Capital Properties & Swig Company
The key individuals involved in this transaction are Kent Swig, Daniel Fournier, Gao Yingxin, and Nathalie Palladitcheff. Kent Swig, as the representative of the Swig Company, played a significant role in the deal. Daniel Fournier, Gao Yingxin, and Nathalie Palladitcheff were involved in their respective capacities.
On the Map
$450,000,000
$41/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Browse New York office loans on Traded.
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