Namdar Realty Group Secures $24.3 Million Acquisition Loan From Symetra Life Insurance Company
321 West 44th Street
$24,300,000
$98/SF
Building Size
246,343 SF
Asset Type
Office
Closing
Sep 1, 2024
AI
The property asset involved in this transaction is located at 321 West 44th Street, situated in the Hell's Kitchen market of Manhattan. This office asset spans a total square footage of 246,343 and has an acquisition loan amounting to $24,300,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,300,000
- Lender: Symetra Life Insurance Company
- Landlord: Namdar Realty Group
- Broker: Chase Johnson - Cushman & Wakefield
- Loan Type: Acquisition
The key individuals and companies involved include Chase Johnson, representing Cushman & Wakefield as the broker for this acquisition. The lender for this transaction is Symetra Life Insurance Company, and the landlord is Namdar Realty Group.
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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93