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34 W 28th St, New York, NY ...

Mission Capital Brokers Secure $8.2M Loan For Office Property At 34 W. 28th St In NoMad
FINANCEDOffice

Mission Capital Brokers Secure $8.2M Loan For Office Property At 34 W. 28th St In NoMad

34 W 28th St, New York, NY 10001, USA

$8,200,000

$33/SF

Building Size

244,550 SF

Asset Type

Office

Closing

Jan 21, 2020

AI

Located at 34 W. 28th St in the NoMad neighborhood, this office property has recently undergone a closed transaction. The property spans a total of 24,455 square feet and was involved in a deal that took place on January 22, 2020.

Summary of transaction details

The property was financed by Ready Capital with a loan amount of $8,200,000. The landlord of the property is the Soma Group, represented by Kassem Abadi. The deal was facilitated by brokers Raymond Salameh, Alex Draganiuk, and Daniel Azizi, who work for Mission Capital.

Players

Alex Draganiuk

Mission Capital Advisors

Broker

$155.3M

vol

3 deals

Broker
Ready Capital
Ready CapitalLender

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

1.93%

Cash-on-Cash

-0.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93