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15 East 26th Street

Henry Elghanayan Of Rockrose Development Modifies $51.2M Loan With Equitable Financial In Flatiron District
FINANCEDOffice

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

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.

Players

Henry Elghanayan

Rockrose Development

Landlord

$251.2M

vol

7 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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93