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Curtis Sachs Of Sachs Companies Refinances Midtown East Properties With 3650 REIT For $50.5M
FINANCED
$50,500,000
New York
See Similar DealsOffice442,272 SF
Financed 07/19/2024
FINANCED
Curtis Sachs Of Sachs Companies Refinances Midtown East Properties With 3650 REIT For $50.5M
155 East 55th Street & 210 East 58th Street
See Similar DealsOffice442,272 SF
Financed 07/19/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$114
Total Square Footage:442,272 SF
Transaction Type:Loan
The transaction involved two properties located at 155 East 55th Street and 210 East 58th Street in Midtown East, Manhattan. The asset comprises an office and multifamily space with a total square footage of 221,136 and includes 161 residential units.
Summary of transaction details:
- Property Type: Office & MultiFamily
- Transaction Amount: $50,500,000
- Lender: 3650 REIT - Tobin Cobb
- Landlord: Curtis Sachs - Sachs Companies
- Loan Type: Refinance
- Loan Date: July 10, 2024
- Record Date: July 17, 2024
The deal was signified by the involvement of Tobin Cobb as the representative from 3650 REIT and Curtis Sachs representing Sachs Companies, highlighting the collaboration between the lending institution and the property owner in this refinancing transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,500,000.00
Monthly NOI$336,666.67
Monthly Debt Service$319,194.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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