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2 Huntington Quadrangle, Me...

Updated Dec 12, 2024

Barclays & Citigroup Provide $350M Loan For Melville, Long Island Office Properties
FINANCEDOffice

Barclays & Citigroup Provide $350M Loan For Melville, Long Island Office Properties

2 Huntington Quadrangle, Melville, NY, USA

$350,000,000

$578/SF

Building Size

605,000 SF

Asset Type

Office

Closing

Jun 17, 2021

About this deal

AI

Located in Melville, Long Island, the property involved in this closed transaction is an office asset situated at 2 Huntington Quadrangle, 6 & 8 Corporate Center Drive. The property has a loan amount of $350,000,000 and is owned by Angelo Gordon & We’re Group, represented by Tony Fromer. Barclays and Citigroup served as the lenders for this transaction.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $350,000,000
  • Address: 2 Huntington Quadrangle, 6 & 8 Corporate Center Drive
  • Market: Melville, Long Island
  • Landlord: Angelo Gordon & We’re Group - Tony Fromer
  • Lenders: Barclays & Citigroup

The collaborative efforts of lenders Barclays and Citigroup facilitated the financing for this office asset. The property is owned by Angelo Gordon & We’re Group and represented by Tony Fromer, their broker representative. This transaction highlights the significance of strong banking partnerships in the commercial real estate sector.

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$350,000,000

$578/SF

Office

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Players

Barclays Bank
Barclays BankLender
Angelo Gordon & Co.
Angelo Gordon & Co.Landlord
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Melville Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Deal FAQ

About $578 per square foot on a published $350M for 605,000 square feet (2021).

Browse New York office loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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