PCCP Provides $150M Refinance Loan For 80 Broad Street Office In FiDi
FINANCED
$150,000,000
New York
See Similar DealsOffice423,777 SF
Financed 11/16/2021
FINANCED
PCCP Provides $150M Refinance Loan For 80 Broad Street Office In FiDi
80 Broad Street, Manhattan, New York, NY, USA
See Similar DealsOffice423,777 SF
Financed 11/16/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$354
Total Square Footage:423,777 SF
Transaction Type:Loan
Located in the Financial District (FiDi) of New York City, the property at 80 Broad Street recently underwent a loan transaction. The asset involved in the deal is an office space spanning approximately 423,777 square feet. The loan, which took place on November 16, 2021, was a refinancing arrangement.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $150,000,000
- Address: 80 Broad Street
- Market: FiDi
- Lender: PCCP - Brian Haber
- Landlord: Broad Street Development - David Israni & Invesco Real Estate
- Brokers: Rob Turner, Grant Frankel & Ethan Pond - Eastdil Secured
The loan transaction at 80 Broad Street was facilitated by Brian Haber of PCCP as the lender. Broad Street Development, represented by David Israni and Invesco Real Estate, served as the landlord. The brokers involved in the deal were Rob Turner, Grant Frankel, and Ethan Pond from Eastdil Secured. The loan amount for this refinancing arrangement was $150,000,000.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$150,000,000.00
Monthly NOI$1,000,000.00
Monthly Debt Service$948,102.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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