CapitalOne Provides $100M Refinance Loan For Office Building At 40 Exchange Place In Manhattan
40 Exchange Pl, New York, NY 10005, USA
$100,000,000
$33/SF
Building Size
3,000,000 SF
Asset Type
Office
Closing
May 21, 2018
About this deal
AI
Richard Fairbank, Ran Eliasaf, and Eric M. Gural have completed a refinancing transaction for a property located at 40 Exchange Place in Manhattan, New York. The property is an office space with a total area of 300,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $100,000,000
- Interest Rate: 4.25%
- Landlord: GFP Real Estate - Eric M. Gural and Northwind Group - Ran Eliasaf
- Lender: CapitalOne - Richard Fairbank
- Mortgage Broker: Newmark Knight
The refinancing deal was facilitated by Richard Fairbank of CapitalOne as the lender. The property is owned by GFP Real Estate, represented by Eric M. Gural, and the Northwind Group, represented by Ran Eliasaf. The mortgage broker involved in the transaction was Newmark Knight.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93