The Chetrit Group Secures $170M Loan From Arbor Commercial Mortgage
FINANCED
$170,000,000
New York
See Similar DealsOffice
Financed 09/15/2017
FINANCED
The Chetrit Group Secures $170M Loan From Arbor Commercial Mortgage
255 W 34th St, New York, NY, 10001
See Similar DealsOffice
Financed 09/15/2017
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
The office property located at 255 W 34th St, New York, NY, 10001, was involved in a loan transaction on 09/15/2017. The loan amount for this asset was $170,000,000.00. The borrower in this transaction was The Chetrit Group. Arbor Commercial Mortgage served as the lender for this deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $170,000,000.00
- Market: New York
- Borrower's Representative: Robert Vernicek, Robert Verrone (Iron Hound Management Company)
The borrower's representatives in this transaction were Robert Vernicek and Robert Verrone from Iron Hound Management Company. Beyond the borrower and lender, key individuals involved in facilitating this loan deal included the borrower's representatives. The Chetrit Group, as the borrower, engaged with these representatives to secure the financial support from Arbor Commercial Mortgage.
Players
LENDER
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$170,000,000.00
Monthly NOI$1,133,333.33
Monthly Debt Service$1,074,515.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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