Goldman Sachs, Bank Of Montreal, And Deutsche Bank Provide $900M Loan For SoHo Office Buildings
233 Spring Street, New York, NY, USA
$900,000,000
Building Size
—
Asset Type
Office
Closing
Jun 20, 2020
AI
Two properties located at 233 Spring Street and 161 Sixth Avenue in SoHo have secured a loan amount of $900,000,000. The loan was provided by Goldman Sachs, Bank of Montreal, and Deutsche Bank. The assets in question are office spaces and are owned by Stellar Management.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $900,000,000
- Lender: Goldman Sachs, Bank of Montreal & Deutsche Bank
- Landlord: Stellar Management
The loan transaction was facilitated by brokers Alexander Hernandez, Alex Lapidus, Meredith Donovan, Steve Kohn, Gideon Gil, and Adam Spies from CushWake.
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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93