Bank Of America Provides $93M Loan For Office Building At 890 Garrison Avenue In Bronx, Hunts Point
890 Garrison Ave, The Bronx, NY 10474, USA
$93,000,000
$229/SF
Building Size
405,000 SF
Asset Type
Office
Closing
Aug 30, 2019
About this deal
AI
The office property located at 890 Garrison Avenue in Bronx, Hunts Point has been involved in a closed transaction. The property spans across 405,000 square feet. The lender for this transaction was Bank of America, providing a loan amount of $93,000,000. The landlords involved in this deal are iStar/Safehold and Madison Marquette. The brokers representing this transaction were Michael Rotchford and David Heller from Savills.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $93,000,000
- Square Footage: 405,000
- Lender: Bank of America
- Landlords: iStar/Safehold, Madison Marquette
- Brokers: Savills - Michael Rotchford & David Heller
Additional details regarding this transaction are not available.
On the Map
$93,000,000
$229/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93