Ares Commercial Real Estate Provides $227M Loan For SoHo Office Buildings
FINANCED
$227,000,000
+ 1
New York
See Similar DealsOffice240,000 SF
Financed 06/22/2021
FINANCED
Ares Commercial Real Estate Provides $227M Loan For SoHo Office Buildings
520 Broadway, Manhattan, New York, NY, USA
See Similar DealsOffice240,000 SF
Financed 06/22/2021
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$945
Total Square Footage:240,000 SF
Transaction Type:Loan
The office property located at 520 & 524 Broadway in SoHo has recently undergone a closed transaction. The property spans a total area of 240,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $227,000,000
- Address: 520 & 524 Broadway, SoHo
The lender for this transaction was Ares Commercial Real Estate, while the landlord involved was Northwood Investors. The deal was facilitated by the brokers Gideon Gil, Steve Kohn, Alex Hernandez, and Lauren Kaufman from Cushman & Wakefield.
No additional information is available regarding this transaction.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$227,000,000.00
Monthly NOI$1,513,333.33
Monthly Debt Service$1,434,794.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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