Witkoff Group Secures $301.6 Million Loan From Wells Fargo For 233 Broadway Office In NYC
233 Broadway
$301,600,000
Building Size
—
Asset Type
Office
Closing
Mar 24, 2025
AI
The asset involved in this transaction is an office property located at 233 Broadway in New York City. The loan amount secured for this property is $301,600,000.00, facilitated by the lender Wells Fargo. The landlord associated with this asset is Witkoff Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $301,600,000.00
- Address: 233 Broadway
- Market: New York City
- Lender: Wells Fargo
- Landlord: Witkoff Group
This transaction involves key individuals and entities, with Wells Fargo providing the financing necessary to support the acquisition of the property. The landlord, Witkoff Group, plays a significant role in managing the property. The transaction is set within the dynamic market of New York City, indicating the strategic importance of this location for office assets.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93