Jonathan Neff Of Barings Provides $230M Refinance Loan To John Kukral Of Northwood Investors For Office In Soho
520 Broadway
$230,000,000
$980/SF
Building Size
234,680 SF
Asset Type
Office
Closing
Sep 3, 2025
About this deal
AI
The asset involved is an office property located at 520 Broadway in Soho, encompassing a total square footage of 234,680. This transaction involves a refinance loan amounting to $230,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $230,000,000
- Lender: Jonathan Neff - Barings
- Landlord: John Kukral - Northwood Investors
- Landlord's Representative: Jordan Roeschlaub & Nick Scribani - Newmark
- Date: 9/4/2025
The refinancing transaction demonstrates the collaboration among key players, with Jonathan Neff representing Barings as the lender, while Jordan Roeschlaub and Nick Scribani represent the landlord, John Kukral of Northwood Investors, through Newmark.
On the Map
$230,000,000
$980/SF
Office
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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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93