JLL Brokers $90M Loan For Office Portfolio Acquisition In Chelsea
FINANCED
$90,000,000
New York
See Similar DealsOffice170,000 SF
Financed 03/13/2020
FINANCED
JLL Brokers $90M Loan For Office Portfolio Acquisition In Chelsea
520 W 20th St, New York, NY 10011, USA
See Similar DealsOffice170,000 SF
Financed 03/13/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$529
Total Square Footage:170,000 SF
Transaction Type:Loan
The office property located at 520 West 20th Street, along with three additional properties, has been involved in a closed transaction in Chelsea. The property spans 170,000 square feet and was sold for a loan amount of $90,000,000. Safra Bank provided the funding for this deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $90,000,000
- Size: 170,000 square feet
- Address: 520 West 20th Street + 3 additional properties
- Market: Chelsea
The brokers involved in this deal were David Sitt and Michael Gigliotti from JLL. They played a crucial role in representing the parties involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$90,000,000.00
Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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