Brookfield Property Partners Secures $224.3M Loan For Office Building In Battery Park City
300 Vesey Street, Manhattan, New York, NY, USA
$224,250,000
$401/SF
Building Size
559,000 SF
Asset Type
Office
Closing
Jun 21, 2021
About this deal
AI
The office building located at 300 Vesey Street in Battery Park City has been involved in a recent transaction. The property, spanning a total area of 559,000 square feet, was the subject of a loan deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $224,250,000
- Date: 06/22/2021
- Address: 300 Vesey Street
- Market: Battery Park City
- Landlord: Brookfield Property Partners
- Loan Amount: $224,250,000
Brian Kingston and Bruce Flatt are the individuals involved in the transaction as representatives from the lending side. They played a key role in securing the loan for the property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93