Landesbank Baden-Wurttemberg Provides $105M Refinance Loan For Office Property In Penn Plaza Manhattan
333 West 34th Street
$105,000,000
$366/SF
Building Size
286,520 SF
Asset Type
Office
Closing
Feb 14, 2023
About this deal
AI
A loan has been secured for the property located at 333 West 34th Street in Penn Plaza, Manhattan. This office space spans a total of 286,520 square feet.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $105,000,000
- Market: Penn Plaza, Manhattan
- Lender: Landesbank Baden-Wurttemberg - Lisa Komm & Kevin Silberman
- Landlord: Brookfied Properties - Sabrina Khabie
The loan, obtained on February 14, 2023, was for the purpose of refinancing the property. Landesbank Baden-Wurttemberg, represented by Lisa Komm and Kevin Silberman, served as the lender in this transaction. The property is owned by Brookfield Properties, with Sabrina Khabie acting as the landlord
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93