M&T Bank Lends $37M For Office Property At 18 W 18th St, NYC
18 W 18th St, New York, NY, 10011
$37,000,000
Building Size
—
Asset Type
Office
Closing
Aug 3, 2016
AI
The office property located at 18 W 18th St, New York, NY, 10011, in the New York market, has secured a loan amounting to $37,000,000.00. The loan was facilitated by M&T Bank, with their Vice President representing them in the deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $37,000,000.00
- Address: 18 W 18th St, New York, NY, 10011
- Market: New York
- Lender: M&T Bank
- Lender's Representative: Vice President (M&T Bank)
The Vice President of M&T Bank played a crucial role in finalizing the loan for the office property at 18 W 18th St, New York. The deal showcases the commitment of both the lender and the borrower in a significant financial transaction within the New York real estate 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93