Signature Bank Provides $57M Loan For Office Building At 211 East 43rd Street, Grand Central, Manhattan
FINANCED
$57,022,903
New York
See Similar DealsOffice177 SF
Financed 12/20/2022
FINANCED
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
See Similar DealsOffice177 SF
Financed 12/20/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$322,163
Total Square Footage:177 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$57,022,903.00
Monthly NOI$380,152.69
Monthly Debt Service$360,423.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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