Nuveen Real Estate Secures $28M C-PACE Loan For 668,000 SF Office In Midtown East
730 Third Ave, Manhattan, New York, NY, USA
$28,000,000
$41/SF
Building Size
668,000 SF
Asset Type
Office
Closing
Sep 24, 2021
About this deal
AI
A 668,000 square foot office property located at 730 Third Ave in Midtown East has recently closed a loan transaction. The loan, provided by Greenworks Lending, was for a total amount of $28,000,000. The loan type is C-PACE, with a repayment term of 25 years. Crystal Smith from Greenworks Lending served as the lender representative in the deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $28,000,000
- Address: 730 Third Ave
- Market: Midtown East
- Lender: Crystal Smith - Greenworks Lending
Nuveen Real Estate, represented by Brian Wallick, acted as the landlord in this transaction. It is worth mentioning that Brian Wallick is the Director of New York Office Investments at Nuveen Real Estate. For more information, interested parties can contact Brian Wallick at 212-916-4305. Additionally, Crystal Smith, the Director of NY Originations at Greenworks Lending, can also be contacted at 212-731-2717.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93