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Newmark Brokers Refinance Loan Of $590M For 907k SF Midtown Office Building

Property Image
FINANCED
$590,000,000
Dustin Stolly
Christopher (Chris) Kramer
+ 3

New York

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Office907,427 SF
Financed
the dealplayerscompscontact
Property Image
FINANCED

Newmark Brokers Refinance Loan Of $590M For 907k SF Midtown Office Building

1540 Broadway, New York City, New York 10036, United States

See Similar Deals
Office907,427 SF
Financed
Dustin Stolly
Christopher (Chris) Kramer
+ 3
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$650
Total Square Footage:907427 SF
Transaction Type:Loan

The property asset involved in this transaction is an office located at 1540 Broadway in the Midtown market. The total square footage of the asset is 907,427 and it is associated with a loan amount of $590,000,000, specifically categorized as a refinance. The landlords for this property are EDGE Fund Advisors and HSBC Alternative Investment Limited.

Summary of transaction details:

The key individuals and companies involved in this transaction include brokers Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Alex Foshay, Daniel Fromm, and Nick Scribani, all representing Newmark. Their involvement is critical in facilitating the refinancing of this significant office asset.

Players

Dustin Stolly
257 deals$48.2B volume
BROKER

Nick Scribani
Newmark
191 deals$52.4B volume(212) 372-2113
BROKER

Daniel Fromm
Newmark
81 deals$5.3B volume
BROKER

Christopher (Chris) Kramer
Newmark
110 deals$21.6B volume(212) 850-5472
BROKER

Alex Foshay
Newmark
10 deals$2.2B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$95.7B volume
BROKER

Monarch
LENDER



HSBC
LENDER

HSBC
LANDLORD

Details

FINANCED
IMAGE: Dustin Stolly, Jordan Roeschlaub, Adam Piekarski, Joshua Acheatel, Daniel Fromm & Nick Scribani DATE: 04/01/2022 ADDRESS: 1540 Broadway MARKET: Midtown ASSET TYPE: Office ~ SF: 907,427 LENDER: Apollo, MSD & Monarch LANDLORD: EDGE Fund Advisors & HSBC Alternative Investment Limited BROKERS: Dustin Stolly, Jordan Roeschlaub (@JordyRoeschlaub), Chris Kramer,  Alex Foshay, Daniel Fromm (@Ddwb) & Nick Scribani - Newmark LOAN AMOUNT: $590,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$590,000,000.00

Monthly NOI$3,933,333.33
Monthly Debt Service$3,729,201.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00