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
About this deal
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.
On the Map
$900,000,000
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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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