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799 Broadway

Blackstone Refinances Greenwich Village Office Building For $270M Loan
FINANCEDOffice

Blackstone Refinances Greenwich Village Office Building For $270M Loan

799 Broadway & 799 Broadway, New York City, New York 10003, United States

$270,000,000

Building Size

Asset Type

Office

Closing

Jun 15, 2022

AI

The recently closed property transaction involves an office asset located at 799 Broadway in Greenwich Village. The property was refinanced with a loan amount of $270,000,000. The loan was obtained through blackstone''>Blackstone Real Estate Debt Strategies, with Michael Eglit representing the lender. The landlord of the property is Columbia Property Trust. Eastdil Secured acted as the broker in the deal.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $270,000,000
  • Loan Type: Refinance

In this transaction, Nelson Mills and Michael Eglit were involved as representatives. Nelson Mills represents the lender, Blackstone Real Estate Debt Strategies, while Michael Eglit represents the same lender in the deal. Columbia Property Trust serves as the landlord of the property. Eastdil Secured acts as the broker for the transaction, facilitating the refinancing of the office asset located at 799 Broadway in Greenwich Village.

Players

Brett Harvey

Newmark

Broker

$270M

vol

28 deals

Broker
Blackstone
BlackstoneLender
Columbia Property Trust
Columbia Property TrustLandlord

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

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93