Bank Of America Provides $93M Loan For Office Building At 890 Garrison Avenue In Bronx, Hunts Point
FINANCED
$93,000,000
New York
See Similar DealsOffice405,000 SF
Financed 08/31/2019
FINANCED
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
See Similar DealsOffice405,000 SF
Financed 08/31/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$229
Total Square Footage:405,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$93,000,000.00
Monthly NOI$620,000.00
Monthly Debt Service$587,823.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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