Bank Of China Provides $450M Loan For 1411 Broadway Office Building In Garment District
FINANCED
$450,000,000
New York
See Similar DealsOffice10,880,740 SF
Financed 02/28/2020
FINANCED
Bank Of China Provides $450M Loan For 1411 Broadway Office Building In Garment District
1411 Broadway, New York, NY 10018, USA
See Similar DealsOffice10,880,740 SF
Financed 02/28/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$41
Total Square Footage:10,880,740 SF
Transaction Type:Loan
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.
Players
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$450,000,000.00
Monthly NOI$3,000,000.00
Monthly Debt Service$2,844,306.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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