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10 Times Square, New York, ...

Deutsche Bank Provides $241M Loan For Times Square Office Building
FINANCEDOffice

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

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:

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.

Players

Ethan Pond

Eastdil Secured

Broker

$13.3B

vol

28 deals

Broker
Deutsche Bank
Deutsche BankLender

L.H. Charney

Charney Associates

Landlord

$352.1M

vol

8 deals

Landlord

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