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ZG Capital Partners Acquires Office In Union Square For $37.5M With Ladder Capital Loan

Property Image
FINANCED
$37,500,000
Daniel Fromm
Jordan (Jordy) Roeschlaub
+ 2

New York

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Office80,000 SF
Financed 12/08/2021
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Property Image
FINANCED

ZG Capital Partners Acquires Office In Union Square For $37.5M With Ladder Capital Loan

836 Broadway, Union Square, New York, NY, USA

See Similar Deals
Office80,000 SF
Financed 12/08/2021
Daniel Fromm
Jordan (Jordy) Roeschlaub
+ 2
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$468
Total Square Footage:80,000 SF
Transaction Type:Loan

The property asset involved in the transaction is an office building located at 836 Broadway in the Union Square market. The asset spans a total square footage of 80,000 and is associated with a loan amount of $37,500,000, categorized as an acquisition loan.

Summary of transaction details:

The key individuals involved in the deal include representatives from ZG Capital Partners, specifically James Tamborlane and Bobby Zar. The brokering team from Newmark consists of Dustin Stolly, Jordan Roeschlaub, and Daniel Fromm, facilitating the acquisition loan transaction.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Daniel Fromm
Newmark
82 deals$5.3B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Ladder Capital
LENDER

James Tamborlane
8 deals$197.3M volume
LANDLORD

Bobby Zar
7 deals$274.5M volume
LANDLORD

Details

FINANCED
IMAGE: Daniel Fromm, Dustin Stolly, Bobby Zar, Jordan Roeschlaub & James Tamborlane DATE: 12/08/2021 ADDRESS: 836 Broadway MARKET: Union Square ASSET TYPE: Office ~ SF: 80,000 LENDER: Ladder Capital LANDLORD: ZG Capital Partners - James Tamborlane & Bobby Zar BROKERS: Dustin Stolly, Jordan Roeschlaub (@JordyRoeschlaub) & Daniel Fromm (@Ddwb) - Newmark (@Newmark) LOAN AMOUNT: $37,500,000 LOAN TYPE: Acquisition loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,500,000.00

Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00