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
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