Aareal Capital Corporation Provides $92.5M Loan For Office Building On 142 West 57th Street, Plaza District
142 West 57th Street, New York, NY, USA
$92,500,000
$4,979/SF
Building Size
18,577 SF
Asset Type
Office
Closing
Mar 25, 2021
AI
The property asset involved in this transaction is an office located at 142 West 57th Street in the Plaza District. The loan amount for this transaction is $92,500,000. The lender in this deal is Aareal Capital Corporation, and the landlord is L&L Holding Company.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $92,500,000
- Address: 142 West 57th Street
- Market: Plaza District
The key individuals and companies involved in this transaction include Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler from Walker & Dunlop who acted as brokers representing the buyer, seller, landlord, and tenant, respectively.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93