Ladder Capital Provides $53M Loan For Office Building In Chelsea
FINANCED
$53,000,000
+ 1
New York
See Similar DealsOffice113,629 SF
Financed 09/16/2019
FINANCED
Ladder Capital Provides $53M Loan For Office Building In Chelsea
251 West 30th Street, Manhattan, New York, NY, USA
See Similar DealsOffice113,629 SF
Financed 09/16/2019
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$466
Total Square Footage:113,629 SF
Transaction Type:Loan
In Chelsea, a commercial office building located at 251 West 30th Street has been involved in a recent closed transaction. The property, spanning 113,629 square feet, was subject to a loan provided by Ladder Capital in the amount of $53,000,000. The landlord of the building is HSP Real Estate Group, represented by Michael Reid and Gerard Nocera.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $53,000,000
- Address: 251 West 30th Street
- Market: Chelsea
- Lender: Ladder Capital
- Landlord: HSP Real Estate Group (Michael Reid & Gerard Nocera)
In facilitating this transaction, JLL played a role as the broker, with Christopher Peck, Peter Rotchford, and Kristen Knapp representing the parties involved.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$53,000,000.00
Monthly NOI$353,333.33
Monthly Debt Service$334,996.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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