Guardian Life Insurance Company Of America Provides $12.6M Loan For Garment District Office
3 W 35th St, New York, NY 10001, USA
$12,600,000
$14/SF
Building Size
873,170 SF
Asset Type
Office
Closing
May 3, 2020
AI
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.
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
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93