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
About this deal
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.
The office loan at 888 Broadway, New York, NY 10003, USA in New York, New York financed for $200M in 2019. The building is 221,312 square feet, implying about 903 per square foot on the published price. Dustin Stolly, Christopher (Chris) Kramer, John Gallagher, Dylan Kane appear on the loan alongside Douglas Elliman, Colliers, Newmark. This page is the New York, New York file for the 888 Broadway, New York, NY 10003, USA office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else financed near 888 Broadway, New York, NY 10003, USA around 2019. Published consideration for 888 Broadway, New York, NY 10003, USA is $200M, dated 2019. Cite this TPG Real Estate Finance Trust Provides $200M Loan For 888 Broadway Flatiron Office loan when underwriting similar office product around New York, New York.
Players
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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