JPMorgan Chase Provides $22.75M Loan For Garment District Office Building
209 West 38th Street, Manhattan, New York, NY, USA
$22,750,000
$157/SF
Building Size
144,635 SF
Asset Type
Office
Closing
Jul 15, 2021
About this deal
AI
The office property located at 209 West 38th Street in the Garment District has recently been involved in a loan transaction.
Summary of transation details
- Property Type: Office
- Loan Amount: $22,750,000
- Square Footage: 144,635
- Address: 209 West 38th Street
- Market: Garment District
The loan for this property was provided by JPMorgan Chase. The landlord, GFP Real Estate, facilitated the transaction. The loan amount was $22,750,000, and the property spans a total of 144,635 square feet.
The office loan at 209 West 38th Street, Manhattan, New York, NY, USA in New York, New York financed for $22.8M in 2021. The building is 144,635 square feet, implying about 157 per square foot on the published price. GFP Real Estate appears on the loan alongside GFP Real Estate. This page is the New York, New York file for the 209 West 38th Street, Manhattan, New York, NY, USA office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else financed near 209 West 38th Street, Manhattan, New York, NY, USA around 2021. Published consideration for 209 West 38th Street, Manhattan, New York, NY, USA is $22.8M, dated 2021. Cite this JPMorgan Chase Provides $22.75M Loan For Garment District Office Building loan when underwriting similar office product around New York, New York.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit GFP Real Estate to view all their deals.
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93