facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Loan

/

580 Broadway

Maxim Capital Group And Sabal Investment Holdings Provide $50 Million Refinance Loan For 580 Broadway
FINANCEDOffice

Maxim Capital Group And Sabal Investment Holdings Provide $50 Million Refinance Loan For 580 Broadway

580 Broadway

$50,000,000

$346/SF

Building Size

144,167 SF

Asset Type

Office

Closing

Jul 1, 2024

AI

The asset involved in the transaction is an office property located at 580 Broadway in SoHo, Manhattan. This property spans 144,167 square feet and is part of a market known for its diverse business environment. The total loan amount for this refinancing transaction is $50,000,000.

Summary of transaction details:

The deal features key individuals including brokers Justin Michael Natalizio, Eric Michael Anton, Matthew Polci from Marcus & Millichap, and Steven Buchwald from Institutional Property Advisors. These professionals played significant roles in facilitating the loan transaction between the involved parties, lending their expertise in the market.

Players

Justin Michael Natalizio

Compass

Broker

$608.9M

vol

16 deals

Broker
Maxim Capital Group
Maxim Capital GroupLender
GDSNY
GDSNY Lender

New York 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

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93