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Nuveen Real Estate Secures $28M C-PACE Loan For 668,000 SF Office In Midtown East

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FINANCED
$28,000,000

New York

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Office668,000 SF
Financed 09/24/2021
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Property Image
FINANCED

Nuveen Real Estate Secures $28M C-PACE Loan For 668,000 SF Office In Midtown East

730 Third Ave, Manhattan, New York, NY, USA

See Similar Deals
Office668,000 SF
Financed 09/24/2021
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$41
Total Square Footage:668,000 SF
Transaction Type:Loan

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

LENDER


Nuveen
LANDLORD

Details

FINANCED
IMAGE: Crystal Smith & Brian Wallick DATE: 09/24/2021 ADDRESS: 730 Third Ave. MARKET: Midtown East ASSET TYPE: Office ~ SF: 668,000 LENDER: @GreenworksLending - Crystal Smith LANDLORD: Nuveen Real Estate (@NuveenInv) - Brian Wallick LOAN AMOUNT: $28,000,000 LOAN TYPE: C-PACE LOAN TERMS: 25 years NOTE FROM @NuveenInv: For more info, please contact: 👤Brian Wallick - Director, New York Office Investments at Nuveen Real Estate 📱 212-916-4305 👤Crystal Smith - Director, NY Originations at Greenworks Lending 📱 212-731-2717

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$28,000,000.00

Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00