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320 W 13th St, New York, NY...

Sage Realty Corporation Secures $97M Loan For Office Building At 2 Gansevoort Street In Manhattan
FINANCEDOffice

Sage Realty Corporation Secures $97M Loan For Office Building At 2 Gansevoort Street In Manhattan

320 W 13th St, New York, NY 10014, USA

$97,000,000

$4,217/SF

Building Size

23,000 SF

Asset Type

Office

Closing

Jul 16, 2018

AI

The office building located at 2 Gansevoort Street in Manhattan has been involved in a closed transaction. The property, owned by the William Kaufman Organization, was sold with the assistance of Sage Realty Corporation as the lender. The transaction amount for the sale of this office building was $97,000,000. The property is situated in a prime location in Manhattan, offering attractive business opportunities for potential tenants.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $97,000,000
  • Address: 2 Gansevoort Street, Manhattan, New York
  • Lender: Sage Realty Corporation
  • Landlord: William Kaufman Organization

Jonathan Kaufman Iger, the CEO of Sage Realty, played a crucial role in facilitating this closed transaction. His expertise and guidance contributed to the successful completion of the deal. With its prime location and attractive features, the office building at 2 Gansevoort Street presents an excellent investment opportunity in the Manhattan market.

Players

Sage realty
Sage realtyBrokerage
Sage realty
Sage realtyLender

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

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93