PCCP Provides $150M Refinance Loan For 80 Broad Street Office In FiDi
80 Broad Street, Manhattan, New York, NY, USA
$150,000,000
$354/SF
Building Size
423,777 SF
Asset Type
Office
Closing
Nov 16, 2021
About this deal
AI
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.
On the Map
$150,000,000
$354/SF
Office
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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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93