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263 W 34th St, New York, NY...

Newmark Knight Frank Arranges $52M Loan For Office & Retail Property On 263 W 34th St
FINANCEDOffice

Newmark Knight Frank Arranges $52M Loan For Office & Retail Property On 263 W 34th St

263 W 34th St, New York, NY 10123, USA

$52,000,000

$1,218/SF

Building Size

42,678 SF

Asset Type

Office

Closing

Jun 20, 2019

AI

Located at 263 W 34th St in the Garment District, this property is a combination of office and retail space. The transaction took place on 06/21/2019.

Summary of transaction details:

The deal was facilitated by the brokerage team from Newmark Knight Frank, consisting of Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, and Nick Scribani. They represented the involved parties in this transaction.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

267 deals

Broker
Marathon Asset Management
Marathon Asset ManagementLender
Churchill Real Estate
Churchill Real EstateLandlord

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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93