New York Life Insurance Company Provides $45M Loan For Office Building At 860 Washington St., Meatpacking District
860 Washington Street, Manhattan, New York, NY, USA
$45,000,000
$390/SF
Building Size
115,173 SF
Asset Type
Office
Closing
Apr 17, 2023
About this deal
AI
The property involved in this transaction is an office space located at 860 Washington Street in the Meatpacking District. The office space spans a total of 115,173 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,000,000
- Address: 860 Washington Street
- Market: Meatpacking District
- Lender: New York Life Insurance Company
- Landlord: Romanoff Equities
The loan amount for this transaction is $45,000,000. The lender involved in this deal is New York Life Insurance Company. The landlord for the property is Romanoff Equities.
On the Map
$45,000,000
$390/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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93