Hidrock Properties Secures $32M Loan For Garment District Office Building
FINANCED
$32,000,000
New York
See Similar DealsOffice77,880 SF
Financed 03/26/2019
FINANCED
Hidrock Properties Secures $32M Loan For Garment District Office Building
35 West 36th Street, New York, NY, USA
See Similar DealsOffice77,880 SF
Financed 03/26/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$410
Total Square Footage:77,880 SF
Transaction Type:Loan
An office property located at 35 W 36th St in the Garment District of New York City has recently been involved in a closed transaction. The property, spanning approximately 77,880 square feet, was the subject of a loan deal.
Summary of transation details
- Property Type: Office
- Transaction Amount: $32M
- Address: 35 W 36th St
- Market: Garment District
The loan for this property was provided by Ladder Capital Finance. The borrower is undisclosed, but the landlord of the property is Hidrock Properties. HFF represented the parties involved in the deal, with Steven Klein and Scott Findlay acting as brokers.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,000,000.00
Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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