Sun Life Provides $15M Loan For Office Building Acquisition At 45 West 34th Street In Herald Square
45 W 34th St, New York, NY 10001, USA
$15,000,000
$131/SF
Building Size
114,000 SF
Asset Type
Office
Closing
Mar 30, 2020
AI
The office property located at 45 West 34th Street in Herald Square has recently undergone a closed transaction. The property spans 114,000 square feet and was involved in a deal that included various parties.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,000,000
The lender for this transaction was Sun Life, and the landlords involved were GFP Real Estate, HSP Real Estate Group, Okada & Co. The deal was facilitated with the assistance of Paul Talbott from Newmark Knight Frank acting as the broker representative.
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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93