Signature Bank Provides $34M Loan For Office Building At 254 West 54th Street, Midtown West
FINANCED
$34,000,000
New York
See Similar DealsOffice60,000 SF
Financed 03/24/2021
FINANCED
Signature Bank Provides $34M Loan For Office Building At 254 West 54th Street, Midtown West
254 West 54th Street, Manhattan, New York, NY, USA
See Similar DealsOffice60,000 SF
Financed 03/24/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$566
Total Square Footage:60,000 SF
Transaction Type:Loan
The office located at 254 West 54th Street in Midtown West has been involved in a recent loan transaction. The lender, Signature Bank, provided a loan amount of $34,000,000 for this property. Spanning across 60,000 square feet, this office space has garnered attention in the market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $34,000,000
- Address: 254 West 54th Street
- Market: Midtown West
- Lender: Signature Bank
- Landlord: Allied Partners
- Square Footage: 60,000 SF
In addition to the loan transaction, the deal involved influential individuals such as Eric Hadar and Joseph J DePaolo. Allied Partners, the landlord of the property, played a crucial role in this transaction as well.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,000,000.00
Monthly NOI$226,666.67
Monthly Debt Service$214,903.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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