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211 East 43rd Street, New Y...

Signature Bank Provides $57M Loan For Office Building At 211 East 43rd Street, Grand Central, Manhattan
FINANCEDOffice

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

Joel BreitKopf

Alchemy Properties

Landlord

$133.5M

vol

3 deals

Landlord

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