Premier Equities & Angelo Gordon Acquires Office On Upper West Side For $35M With Ladder Capital Loan
2875 Broadway, Upper West Side, New York, NY, USA
$35,000,000
$1,119/SF
Building Size
31,271 SF
Asset Type
Office
Closing
Oct 29, 2021
AI
The property involved in this transaction is an office located at 2875 Broadway in the Upper West Side market. The office spans a total of 31,271 square feet.
Summary of transation details
- Property Type: Office
- Transaction Amount: $35,000,000
- Date: 10/29/2021
- Address: 2875 Broadway
- Market: Upper West Side
- Lender: Ladder Capital
- Landlord: Uzi Ben Abraham & Yaron Jacobi - Premier Equities & Angelo Gordon
- Brokers: Cary Pollack & Judah Neuman - Meridian Capital Group
The loan in this transaction is an acquisition loan provided by Ladder Capital. The property's landlords are Uzi Ben Abraham and Yaron Jacobi of Premier Equities and Angelo Gordon. The brokers involved in the deal are Cary Pollack and Judah Neuman of Meridian Capital Group.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93