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Citi Real Estate Funding Provides $49M Loan For Office Asset By Elo Group Realty In Midtown Manhattan
FINANCED
$49,000,000
New York
See Similar DealsOffice356,126 SF
Financed 02/19/2025
FINANCED
Citi Real Estate Funding Provides $49M Loan For Office Asset By Elo Group Realty In Midtown Manhattan
6 West 48th Street & 21 West 46th Street
See Similar DealsOffice356,126 SF
Financed 02/19/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$137
Total Square Footage:356,126 SF
Transaction Type:Loan
The property asset involved is located at 6 West 48th Street & 21 West 46th Street in Midtown Manhattan. This office asset encompasses a total square footage of 178,063 and has secured a loan amount of $49,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $49,000,000
- Address: 6 West 48th Street & 21 West 46th Street
- Market: Midtown Manhattan
- Lender: Citi Real Estate Funding
- Landlord: Elo Group Realty
Citi Real Estate Funding serves as the lender in this transaction, while Elo Group Realty is identified as the landlord for the property, indicating the roles of key players in this loan agreement.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$49,000,000.00
Monthly NOI$326,666.67
Monthly Debt Service$309,713.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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