Bank Of Montreal Provides $215M Loan For 439K SF Office In Times Square
FINANCED
$215,000,000
New York
See Similar DealsOffice439,785 SF
Financed 08/25/2021
FINANCED
Bank Of Montreal Provides $215M Loan For 439K SF Office In Times Square
1450 Broadway, Manhattan, New York, NY, USA
See Similar DealsOffice439,785 SF
Financed 08/25/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$488
Total Square Footage:439,785 SF
Transaction Type:Loan
1450 Broadway, located in Times Square, has recently secured a loan transaction. The office building spans across 439,785 square feet, making it a substantial asset in the market. The loan amount for this transaction is $215,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $215,000,000
- Address: 1450 Broadway
- Market: Times Square
- Asset Type: Office
- Square Footage: 439,785
Bank of Montreal, represented by Paul Vanderslice, provided the loan for this transaction. The landlord of 1450 Broadway is ZG Capital Partners. Newmark's brokers, Dustin Stolly, Jordan Roeschlaub, and Daniel Fromm, facilitated the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$215,000,000.00
Monthly NOI$1,433,333.33
Monthly Debt Service$1,358,946.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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