Aandar Real Estate Capital Arranges $15.6M Refinance Loan For 227k SF Office Building In Menands
800 North Pearl Street
$15,600,000
$68/SF
Building Size
227,000 SF
Asset Type
Office
Closing
Dec 22, 2022
AI
An office property located at 800 North Pearl Street in Menands has recently undergone a refinance transaction. The property spans an impressive 227,000 square feet and is situated in the bustling Menands market.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $15,600,000
- Loan Type: Refinance
- Loan Terms: 75% LTV, 6% Fixed, 7-year term, 30 yr amortization
The deal was facilitated by Jeff Feldman, Aaron Rosenfeld, and Ben Karolitzky from Aandar Real Estate Capital. These brokers played a key role in the successful completion of the refinance.
Players
Menands 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93