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Apple Bank For Savings Grants $36M Mortgage For Office Building At 44 West 18th Street In Manhattan's Flatiron Area

Property Image
FINANCED
$36,000,000
David Levy
James Buslik
KW
+ 1

New York

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Office179,186 SF
Financed 07/25/2023
the dealplayerscompscontact
Property Image
FINANCED

Apple Bank For Savings Grants $36M Mortgage For Office Building At 44 West 18th Street In Manhattan's Flatiron Area

44 W 18th St New York, NY 10011, USA

See Similar Deals
Office179,186 SF
Financed 07/25/2023
David Levy
James Buslik
KW
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$200
Total Square Footage:179,186 SF
Transaction Type:Loan

The property asset involved in this transaction is an office building with a total square footage of 179,186 located at 44 West 18th Street in the Manhattan market. The property has been financed through a loan amounting to $36 million provided by Apple Bank For Savings.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $36,000,000
  • Address: 44 West 18th Street
  • Market: Manhattan
  • Asset Size: 179,186 SF
  • Lender: Apple Bank For Savings
  • Landlord: Adams & Co. Real Estate
  • Landlord's Representatives: James B. Buslik, David Levy, Kenneth Walsh & John Perlman

The deal involves key individuals and representatives from Adams & Co. Real Estate, highlighting the expertise of James B. Buslik, David Levy, Kenneth Walsh, and John Perlman in facilitating this transaction. Their roles were significant in the financing process of the property specified.

Players

Apple Bank
Apple Bank
LENDER
David Levy
David Levy
15 deals$131.3M volume
LANDLORD
James Buslik
James Buslik
9 deals$64.1M volume
LANDLORD
KW
Kenneth Walsh
3 deals$64.1M volume
LANDLORD
JP
John Perlman
3 deals$64.1M volume
LANDLORD

Details

FINANCED
IMAGE: James B. Buslik, David Levy, Kenneth Walsh & John Perlman DATE: 07/25/2023 ADDRESS: 44 West 18th Street MARKET: Manhattan ASSET TYPE: Office ~ SF: 179,186 LENDER: Apple Bank For Savings LANDLORD: Adams & Co. Real Estate (@AdamsreNYC) - James B. Buslik, David Levy, Kenneth Walsh & John Perlman LOAN AMOUNT: $36,000,000 NOTE: Apple Bank for Savings has granted a $36 million mortgage for the 179,186-square-foot office building located at 44 West 18th St. in Manhattan's Flatiron area.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$36,000,000.00

Monthly NOI$240,000.00
Monthly Debt Service$227,544.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00