Signature Bank Provides $57M Loan For Office Building At 211 East 43rd Street, Grand Central, Manhattan
211 East 43rd Street, New York City, New York 10017, United States
$57,022,903
$322,163/SF
Building Size
177 SF
Asset Type
Office
Closing
Dec 20, 2022
AI
211 East 43rd Street, located in the Grand Central neighborhood of Manhattan, has recently undergone a closed property transaction. The office building spans 177,000 square feet, providing ample space for commercial activities in the area.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $57,022,903
- Market: Grand Central, Manhattan
- Lender: Signature Bank - Gregory Fantauzzi
- Landlord: Alchemy Properties - Joel Breitkopf
Signature Bank, represented by Gregory Fantauzzi, provided a loan amount of $57,022,903 for this transaction. The loan will support the property's new ownership, represented by Alchemy Properties and Joel Breitkopf. This deal highlights the significance of the property as a valuable asset in the Grand Central 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93