Apple Bank For Savings Provides $20M Refinance Loan For NoHo Office Building
627 Broadway, New York City, New York 10012, United States
$20,000,000
$191/SF
Building Size
104,500 SF
Asset Type
Office
Closing
Jan 19, 2022
About this deal
AI
The office property located at 627 Broadway in NoHo has undergone a recent transaction. The property spans a total of 104,500 square feet and is classified as an office asset.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,000,000
- Address: 627 Broadway
- Market: NoHo
- Lender: Apple Bank for Savings
- Landlord: Legacy Real Estate
- Loan Type: Refinance
This transaction involved a refinance loan of $20,000,000 from Apple Bank for Savings. Legacy Real Estate served as the landlord in this deal.
On the Map
$20,000,000
$191/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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93