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:
- Property Type: Office
- Transaction Amount: $50,000,000
- Lender: Maxim Capital Group, Sabal Investment Holdings, GDSNY
- Landlord: Chelsfield Group, Ram Holdings
- Brokers: Justin Michael Natalizio, Eric Michael Anton, Matthew Polci - Marcus & Millichap; Steven Buchwald - Institutional Property Advisors
- Loan Type: Refinance
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
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93