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44 W 18th St New York, NY 1...

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

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

Apple Bank
Apple BankLender

David Levy

Adams & Co. Real Estate

Landlord

$131.3M

vol

15 deals

Landlord

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