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
About this deal
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:
- Property Type: Office & Retail
- Transaction Amount: $52,000,000
- Lender: Marathon Asset Management
- Landlord: Churchill Real Estate Holdings
- Brokers: Newmark Knight Frank – Dustin Stolly, Jordan Roeschlaub, Daniel Fromm & Nick Scribani
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.
On the Map
$52,000,000
$1,218/SF
Office
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Players
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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