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42 22 22nd Street

Mark Rowan Of Apollo And Christian Sewing Of Deutsche Bank Provide $280M Refinance For Office In Long Island City
FINANCEDOffice

Mark Rowan Of Apollo And Christian Sewing Of Deutsche Bank Provide $280M Refinance For Office In Long Island City

42 22 22nd Street

$280,000,000

$1,365/SF

Building Size

205,000 SF

Asset Type

Office

Closing

Jun 29, 2025

AI

The property asset involved in the transaction is located at 42-22 22nd Street in Long Island City. This office building encompasses a total square footage of 205,000 and is part of the broader Long Island City market. A refinancing loan was secured for the property totaling $280,000,000.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $280,000,000
  • Lender: Mark Rowan - Apollo and Christian Sewing - Deutsche Bank
  • Landlord: Michael Hackman - Hackman Capital Partners and Craig Solomon - Affinius Capital Partners
  • Landlord's Representative: Jordan Roeschlaub and Jonathan Firestone - Newmark
  • Loan Type: Refinance

The transaction involved key stakeholders including Mark Rowan and Christian Sewing representing the lending institutions. The landlords, Michael Hackman and Craig Solomon, are associated with Hackman Capital Partners and Affinius Capital Partners, respectively. The representation for the landlords was handled by Jordan Roeschlaub and Jonathan Firestone from Newmark.

Players

Jordan Roeschlaub

Newmark

Broker

$98.2B

vol

330 deals

Broker
Newmark
NewmarkBrokerage
Deutsche Bank
Deutsche BankLender

Michael Hackman

Hackman Capital Partners

Landlord

$1.1B

vol

8 deals

Landlord
Hackman Capital Partners
Hackman Capital PartnersLandlord

Long Island City Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93