Richard Horowitz Of Cooper Horowitz Secures $210M Loan For Office Building In New York
273 Madison Ave, New York, NY, 10016
$210,000,000
Building Size
—
Asset Type
Office
Closing
Jul 11, 2018
About this deal
AI
The property at 273 Madison Ave, New York, NY, 10016, is an office asset in the New York market. The loan for this property was provided on 07/11/2018, by United Labor Life Insurance Company (ULLICO) to the borrower, with Richard Horowitz from Cooper Horowitz representing the borrower in this transaction. The loan amount extended for this office property was $210,000,000.00.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $210,000,000.00
- Address: 273 Madison Ave, New York, NY, 10016
- Market: New York
- Borrower's Rep: Richard Horowitz (Cooper Horowitz)
- Lender: United Labor Life Insurance Company (ULLICO)
In this deal, Richard Horowitz from Cooper Horowitz acted as the borrower's representative, facilitating the transaction with the lender, United Labor Life Insurance Company (ULLICO). The involvement of these key individuals and companies highlights the collaboration that took place in securing the significant loan amount for the office property located in New York.
On the Map
$210,000,000
Office
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Players
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93