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
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