Goldman Sachs Barclays And Morgan Stanley Provide $167 Million Refinance Loan For Office At 32 Old Slip
32 Old Slip
$167,000,000
$142/SF
Building Size
1,170,997 SF
Asset Type
Office
Closing
May 4, 2025
AI
The asset involved in this transaction is an office property located at 32 Old Slip in the Financial District, with a total square footage of 1,170,997. The loan amount secured for refinancing is $167,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $167,000,000
- Market: Financial District
- Lender: Goldman Sachs, Barclays, & Morgan Stanley
- Landlord: Safehold & Melohn Capital
- Landlord's Representatives: Jordan Roeschlaub, Daniel Fromm, & John Caraviello - Newmark
- Loan Type: Refinance
Key individuals involved in the transaction include representatives from the lending institutions, namely Goldman Sachs, Barclays, and Morgan Stanley, contributing to the refinancing deal. The landlords, Safehold and Melohn Capital, are represented by Jordan Roeschlaub, Daniel Fromm, and John Caraviello from the brokerage firm Newmark.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93