Guardian Life Insurance Company Of America Provides $12.6M Loan For Garment District Office
FINANCED
$12,600,000
New York
See Similar DealsOffice873,170 SF
Financed 05/04/2020
FINANCED
Guardian Life Insurance Company Of America Provides $12.6M Loan For Garment District Office
3 W 35th St, New York, NY 10001, USA
See Similar DealsOffice873,170 SF
Financed 05/04/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$14
Total Square Footage:873,170 SF
Transaction Type:Loan
The office property located at 3 West 35th Street in the Garment District has been involved in a loan transaction. The lender, Guardian Life Insurance Company of America, provided a loan amount of $12,600,000 for this asset. The property spans across 87,317 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $12,600,000
- Address: 3 West 35th Street
- Market: Garment District
- Lender: Guardian Life Insurance Company of America
Notably, the landlord involved in this transaction is BLDG Management, represented by Lloyd Goldman. The deal highlights the collaboration between the lender and the landlord to secure financing for the office property.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,600,000.00
Monthly NOI$84,000.00
Monthly Debt Service$79,640.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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