ZG Capital Partners Acquires Office Building In Mott Haven, Bronx For $65M
FINANCED
$44,800,000
+ 3
New York
See Similar DealsOffice188,000 SF
Financed
FINANCED
ZG Capital Partners Acquires Office Building In Mott Haven, Bronx For $65M
Bruckner Building, 2417 3rd Avenue, The Bronx, NY, USA
See Similar DealsOffice188,000 SF
Financed
+ 3
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$238
Total Square Footage:188,000 SF
Transaction Type:Loan
The Bruckner Building located at 2417 3rd Avenue in Mott Haven, Bronx, has been involved in a recent property transaction. The asset, classified as an office space, was the subject of a loan deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $44,800,000
- Address: 2417 3rd Avenue (Bruckner Building)
- Market: Mott Haven, Bronx
- Square Footage: 188,000
Ladder Capital provided the loan for this transaction, with a term of 4 years. The landlords involved in the deal are Bobby Zar and James Tamborlane of ZG Capital Partners. The brokerage team from CushWake, consisting of Gideon Gil, Alex Lapidus, Maya Steinberger, and Adam Doneger, represented the parties in the transaction.
It is worth noting that ZG Capital Partners recently purchased the property for $65 million.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,800,000.00
Monthly NOI$298,666.67
Monthly Debt Service$283,166.47
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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