Apple Bank Refinances $60M Loan For 490,000 SF Office In Hudson Square
FINANCED
$60,000,000
New York
See Similar DealsOffice490,000 SF
Financed 05/24/2022
FINANCED
Apple Bank Refinances $60M Loan For 490,000 SF Office In Hudson Square
200 Varick Street, New York City, New York 10014, United States
See Similar DealsOffice490,000 SF
Financed 05/24/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$122
Total Square Footage:490,000 SF
Transaction Type:Loan
Jeffrey Gural and Paul Talbot have recently closed a loan transaction in Hudson Square. The property involved is an office space spanning 490,000 square feet, located at 200 Varick St. Apple Bank provided a refinance loan of $60,000,000 with a fixed-rate of 3.50% for a term of 10 years.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $60,000,000
- Address: 200 Varick St.
- Market: Hudson Square
- Lender: Apple Bank
- Landlord: GFP Real Estate
- Landlord's Representative: Paul Talbot - Newmark
Paul Talbot from Newmark represented the landlord, GFP Real Estate, in this loan transaction. The collaboration between Jeffrey Gural and Paul Talbot ensured the successful financing of the office property in Hudson Square.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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