Signature Bank Provides $17.5M Loan For Midtown West Office Building
147 West 35th Street, Manhattan, New York, NY, USA
$17,500,000
$2,633/SF
Building Size
6,646 SF
Asset Type
Office
Closing
Apr 20, 2021
AI
A $17,500,000 loan has been secured for an office property located at 147 West 35th Street in Midtown West. The loan was provided by Signature Bank.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $17,500,000
- Address: 147 West 35th Street
- Market: Midtown West
- Lender: Signature Bank
The landlord of the property is Falcon Properties, owned by Elias and Florencia Masri. The deal was facilitated by brokers Dylan Kane, Zach Redding, and Drew Ahlers from B6RealEstate.
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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93