Wells Fargo Provides $90M Construction Loan For 1841-1845 Broadway Office Building
1841-1845 Broadway, New York City, New York 10023, United States
$90,000,000
$697/SF
Building Size
129,090 SF
Asset Type
Office
Closing
Jun 8, 2022
About this deal
AI
The property asset involved in this closed transaction is an office building located at 1841-1845 Broadway in Lincoln Square. The building has a total area of 129,090 square feet and consists of 123 units. The transaction took place on 06/09/2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $90,000,000
- Address: 1841-1845 Broadway, Lincoln Square
- Market: Lincoln Square
- Lender: Wells Fargo
- Landlord: Global Holdings Management Group
The loan amount for this transaction was $90,000,000, and the loan type was construction. Global Holdings Management Group served as the landlord in this deal, while Wells Fargo provided the loan.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93