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Roni Mova's United Group Acquires Office Building On 29 West 35th Street In Midtown For $41M

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FINANCED
$41,000,000

New York

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Office955,000 SF
Financed 05/30/2019
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Property Image
FINANCED

Roni Mova's United Group Acquires Office Building On 29 West 35th Street In Midtown For $41M

29 W 35th St, New York, NY 10001, USA

See Similar Deals
Office955,000 SF
Financed 05/30/2019
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$42
Total Square Footage:955,000 SF
Transaction Type:Loan

The office property located at 29 West 35th Street in Midtown has been involved in a closed transaction. The property spans a total of 95,500 square feet and was purchased for a loan amount of $41,000,000 from @WellsFargo at a rate of 3.8% over a 10-year term. The landlord of the property is Roni Mova, who represents United Group and American Equities. The deal was facilitated by David Hayum and Luke Hingson from Meridian Capital Group.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $41,000,000
  • Loan Terms: 10 Years, 3.8%
  • Property Address: 29 West 35th Street
  • Market: Midtown
  • Square Footage: 95,500
  • Landlord: Roni Mova – United Group, American Equities
  • Lender: @WellsFargo

The deal was successfully closed thanks to the representation of David Hayum and Luke Hingson from Meridian Capital Group, who played a crucial role in the transaction.

Players

LENDER

Details

FINANCED
IMAGE: @RoniMova DATE: 05/30/2019 ADDRESS: 29 West 35th Street MARKET: Midtown ASSET TYPE: Office LENDER: @WellsFargo LANDLORD: Roni Mova – United Group, American Equities LOAN AMOUNT: $41,000,000 TERMS: 10 Year, 3.8% SF: 95,500 LANDLORD’S REP: David Hayum & Luke Hingson @Meridian.Capital.Group

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$41,000,000.00

Monthly NOI$273,333.33
Monthly Debt Service$259,147.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00