Shorewood Real Estate Group Secures $66 Million Loan In New York
17 John St, New York, NY, 10038
$66,000,000
Building Size
—
Asset Type
Office
Closing
Sep 15, 2016
AI
The property asset involved in this transaction is located at 17 John St, New York, NY, 10038. It is categorized as an office space. The total loan amount associated with this property is $66,000,000.00 within the New York market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $66,000,000.00
- Borrower's Representative: Max Herzog - Institutional Property Advisors
- Borrower: Shorewood Real Estate Group
- Lender: Acore Capital
- Loan Date: 09/15/2016
Key individuals involved in this transaction include Max Herzog, who represents the borrower, Shorewood Real Estate Group, while the lender for this deal is Acore Capital. The transaction was executed on September 15, 2016, marking a significant deal within the New York office market.
Players
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93