TPG Real Estate Finance Trust Provides $200M Loan For 888 Broadway Flatiron Office
888 Broadway, New York, NY 10003, USA
$200,000,000
$903/SF
Building Size
221,312 SF
Asset Type
Office
Closing
Sep 19, 2019
AI
Normandy Real Estate Partners and Invesco Real Estate have jointly acquired an office property located at 888 Broadway in the Flatiron market. The property spans a total area of 221,312 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $200,000,000
- Lender: TPG Real Estate Finance Trust
The deal was facilitated by NKF, with Dustin Stolly, Jordan Roeschlaub, Nick Scribani, Chris Kramer, and Dylan Kane serving as brokers on behalf of the parties involved.
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93