Nationwide Life Insurance Company Lends $63M On Noho Office Building
622 Broadway, New York, NY 10012, USA
$63,000,000
$63/SF
Building Size
994,700 SF
Asset Type
Office
Closing
Jan 9, 2020
About this deal
AI
The office building located at 622 Broadway in Noho has recently undergone a closed property transaction. The property, measuring 99,470 square feet, was involved in a deal with a loan amount of $63,000,000 provided by Nationwide Life Insurance Company. The landlord of the building is Yuco Management, owned by Raymond Yu.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $63,000,000
- Address: 622 Broadway
- Market: Noho
The deal was facilitated by Yuco Management's representative, Raymond Yu. The involvement of Nationwide Life Insurance Company as the lender highlights their commitment to commercial real estate transactions.
On the Map
$63,000,000
$63/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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93