Ares Commercial Real Estate Management Provides $90M Loan For Office Building At 817 Broadway In West Village
817 Broadway, Manhattan, New York, NY, USA
$90,000,000
$612/SF
Building Size
147,000 SF
Asset Type
Office
Closing
Jul 1, 2021
About this deal
AI
Located at 817 Broadway in the West Village, this office property was involved in a loan transaction. The loan amount for this deal was $90,000,000. The lender for this transaction was Ares Commercial Real Estate Management, while the landlord of the property was Taconic Partners.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $90,000,000
- Address: 817 Broadway
- Market: West Village
Charles Bendit & Paul Pariser were the key individuals associated with this transaction. They represented the landlord, Taconic Partners, in this deal.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93