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32 Old Slip

Goldman Sachs Barclays And Morgan Stanley Provide $167 Million Refinance Loan For Office At 32 Old Slip
FINANCEDOffice

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:

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

Daniel Fromm

Newmark

Broker

$5.3B

vol

82 deals

Broker
Barclays Bank
Barclays BankLender

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

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