Henry Elghanayan Of Rockrose Development Modifies $51.2M Loan With Equitable Financial In Flatiron District
15 East 26th Street
$51,200,000
$365/SF
Building Size
140,025 SF
Asset Type
Office
Closing
Apr 9, 2025
About this deal
AI
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.
On the Map
$51,200,000
$365/SF
Office
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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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93