KPG Funds Refinances Soho Office Building For $64M Loan
FINANCED
$64,000,000
New York
See Similar DealsOffice60,000 SF
Financed 03/07/2022
FINANCED
KPG Funds Refinances Soho Office Building For $64M Loan
446 Broadway, New York City, New York 10013, United States
See Similar DealsOffice60,000 SF
Financed 03/07/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,066
Total Square Footage:60,000 SF
Transaction Type:Loan
The property involved in this transaction is an office space located at 446 Broadway in the Soho market. The property spans approximately 60,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $64,000,000
- Lender: Ladder Capital & Heitman
- Landlord: KPG Funds
- Brokers: Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, and Nick Scribani - Newmark
- Loan Type: Refinance
The key individuals involved in this transaction include Jordan Roeschlaub, Dustin Stolly, Rod Kritsberg, Daniel Fromm, Gregory Kraut, and Nick Scribani. They represented the parties in this deal, with Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, and Nick Scribani acting as brokers from Newmark. The loan for this transaction was provided by Ladder Capital and Heitman, while KPG Funds served as the landlord.
Players
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,000,000.00
Monthly NOI$426,666.67
Monthly Debt Service$404,523.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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