Stellar Management Secures $78M Loan For NoMad Office Building
44 W 28th St, New York, NY 10001, USA
$78,000,000
$7,978/SF
Building Size
9,776 SF
Asset Type
Office
Closing
Sep 5, 2019
About this deal
AI
The office building located at 44 West 28th Street in NoMad has recently been involved in a closed transaction. The property, owned by Stellar Management, was the subject of a loan provided by New York Community Bank. The loan amount for this transaction was $78,000,000.
Summary of Transaction Details:
- Property Type: Office
- Loan Amount: $78,000,000
- Lender: New York Community Bank
- Landlord: Stellar Management
- Address: 44 West 28th Street
- Market: NoMad
This transaction brings together key individuals and companies. New York Community Bank acted as the lender for this deal, while Stellar Management served as the landlord of the property.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93