Barclays & Citigroup Provide $350M Loan For Long Island Office Building
50 Jericho Quadrangle, Jericho, NY, USA
$350,000,000
Building Size
—
Asset Type
Office
Closing
Jun 1, 2020
AI
Three office properties located at 50 Jericho Quadrangle, 3003 New Hyde Park Road, and 3000 Marcus Avenue in Long Island have been involved in a recent closed property transaction. The deal was finalized in June 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $350,000,000
- Lender: Barclays & Citigroup
- Landlord: Angelo Gordon & The We're Group
- Brokers: Ben Kroll, Dustin Stolly & Jordy Roeschlaub ewmark
The lenders involved in this transaction were Barclays and Citigroup. The landlords responsible for these office properties were Angelo Gordon and The We're Group. Representing the deal, the brokers involved were Ben Kroll, Dustin Stolly, and Jordy Roeschlaub ewmark.
Players
Jericho 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93