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273 Madison Ave, New York, ...

Richard Horowitz Of Cooper Horowitz Secures $210M Loan For Office Building In New York
FINANCEDOffice

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

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.

Players

Richard Horowitz

Cooper Horowitz

Broker

$2.7B

vol

40 deals

Broker
United Labor Life Insurance Company (ULLICO)
United Labor Life Insurance Company (ULLICO)Lender

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