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Henry Elghanayan Of Rockrose Development Modifies $51.2M Loan With Equitable Financial In Flatiron District
FINANCED
$51,200,000
New York
See Similar DealsOffice140,025 SF
Financed 04/09/2025
FINANCED
Henry Elghanayan Of Rockrose Development Modifies $51.2M Loan With Equitable Financial In Flatiron District
15 East 26th Street
See Similar DealsOffice140,025 SF
Financed 04/09/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$365
Total Square Footage:140,025 SF
Transaction Type:Loan
An office property located at 15 East 26th Street in the Flatiron District of Manhattan comprises a total square footage of 140,025. The property is associated with a loan amount of $51,200,000, modified by Rockrose Development with Equitable Financial Life Insurance.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $51,200,000
- Address: 15 East 26th Street
- Market: Flatiron District, Manhattan
- Landlord: Henry Elghanayan - Rockrose Development
- Lender: Equitable Financial Life Insurance
Henry Elghanayan represents Rockrose Development in this transaction, which involves the modification of the existing loan for the property situated in a prominent location in Manhattan.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$51,200,000.00
Monthly NOI$341,333.33
Monthly Debt Service$323,618.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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