Uikun Lee Secures $27.2M Refinance Loan For Office Building At 22 West 32nd Street
22 West 32nd Street
$27,200,000
$240/SF
Building Size
113,000 SF
Asset Type
Office
Closing
Oct 6, 2023
About this deal
AI
Note: Uikun Lee, representing Montague Lee 32 LLC, secured a refinancing loan from Woori America Bank worth $27.2 million for the office building located at 22 West 32nd Street in Manhattan's Penn Plaza. The property has a total square footage of 113,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,212,458
- Lender: Woori America Bank - Davis Min Jang
- Landlord: Uikun Lee
- Loan Type: Refinance
Uikun Lee, representing Montague Lee 32 LLC, successfully obtained a refinancing loan from Woori America Bank for the office building at 22 West 32nd Street in Penn Plaza. The loan amount was $27.2 million, and the lender's representative was Davis Min Jang.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93