Paul Talbot Of Newmark Secures $60M Loan From Apple Bank At 190 Varick St, New York
190 Varick St, New York, NY, 10014
$60,000,000
Building Size
—
Asset Type
Office
Closing
May 24, 2022
About this deal
AI
The office property located at 190 Varick St, New York, NY, 10014, was involved in a recent loan transaction. The loan amount for this asset was $60,000,000.00. The borrower's representative in this deal was Paul Talbot from Newmark. The lender for this transaction was Apple Bank. The property falls under the office asset type and is situated in the New York market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $60,000,000.00
- Address: 190 Varick St, New York, NY, 10014
- Market: New York
- Borrower's Rep: Paul Talbot (Newmark)
- Lender: Apple Bank
Paul Talbot from Newmark served as the borrower's representative in this transaction, while Apple Bank acted as the lender. The deal involving the office property at 190 Varick St in New York was facilitated by these key individuals and companies.
On the Map
$60,000,000
Office
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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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93