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
$36,000,000
$200/SF
Building Size
179,186 SF
Asset Type
Office
Closing
Jul 25, 2023
AI
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
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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93