Deutsche Bank Provides $241M Loan For Times Square Office Building
10 Times Square, New York, NY, USA
$241,000,000
$11,100/SF
Building Size
21,711 SF
Asset Type
Office
Closing
Aug 20, 2020
About this deal
AI
The property involved in this closed transaction is an office located at 10 Times Square, also known as 1441 Broadway, in the Times Square market. The loan for this transaction was provided by Deutsche Bank, represented by Peter Castro. The landlord of the property is L.H. Charney Associates. The brokers involved in this deal were Ethan Pond, Kenneth Ziebelman, and Matthew Venter, represented by astdilSecured. The loan amount for this transaction was $241,000,000.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $241,000,000
- Address: 10 Times Square AKA 1441 Broadway
- Market: Times Square
- Lender: Deutsche Bank - Peter Castro
- Landlord: L.H. Charney Associates
- Brokers: Ethan Pond, Kenneth Ziebelman, and Matthew Venter astdilSecured
This transaction involved key individuals and companies, including the lender Deutsche Bank, represented by Peter Castro. The landlord of the property is L.H. Charney Associates. The deal was facilitated by brokers Ethan Pond, Kenneth Ziebelman, and Matthew Venter, who are affiliated with astdilSecured.
On the Map
$241,000,000
$11,100/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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93