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50 Jericho Quadrangle, Jeri...

Barclays & Citigroup Provide $350M Loan For Long Island Office Building
FINANCEDOffice

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

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

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

267 deals

Broker
Barclays Bank
Barclays BankLender

Angelo Gordon

The We’re Group

Landlord

$1.8B

vol

23 deals

Landlord

Jericho Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

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