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Emmes Asset Management Secures $20M Refinance Loan From Genesis LLC For Midtown West Properties

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FINANCED
$20,000,000

New York

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Office110,380 SF
Financed 07/31/2025
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Property Image
FINANCED

Emmes Asset Management Secures $20M Refinance Loan From Genesis LLC For Midtown West Properties

1672 Broadway & 11 West 56th Street

See Similar Deals
Office110,380 SF
Financed 07/31/2025
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$181
Total Square Footage:110,380 SF
Transaction Type:Loan

The asset involved in this transaction includes an office building located at 1672 Broadway and a retail site at 11 West 56th Street in Midtown West, Manhattan. The total square footage of the properties is 55,190. Emmes Asset Management secured a refinance loan of $20 million for these properties, engaging with Genesis LLC as the lender.

Summary of transaction details:

  • Property Type: Office & Retail
  • Transaction Amount: $20,000,000
  • Loan Type: Refinance
  • Address: 1672 Broadway & 11 West 56th Street
  • Market: Midtown West, Manhattan
  • Lender: Genesis LLC
  • Landlord: Emmes Asset Management

This transaction highlights the involvement of Genesis LLC as the lender facilitating the refinance, while Emmes Asset Management is identified as the landlord responsible for the properties. The refinancing arrangement serves to enhance the financial positioning of Emmes Asset Management in managing its Midtown West assets.

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Details

FINANCED
IMAGE: 07/31/2025 ADDRESS: 1672 Broadway & 11 West 56th Street MARKET: Midtown West, Manhattan ASSET TYPE: Office & Retail ~ SF: 55,190 LENDER: Genesis LLC LANDLORD: Emmes Asset Management (@EmmesGroup) LOAN AMOUNT: $20,000,000 LOAN TYPE: Refinance NOTE: Emmes Asset Management secured a $20M refinance loan from Genesis LLC for two Midtown West properties, including the office building at 1672 Broadway and a retail site at 11 West 56th Street.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$20,000,000.00

Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00