FINANCEDOffice
Meridian Capital Group Arranges $32.25M Refinance Loan For Midtown South Office
$32,250,000
$161/SF
Building Size
200,000 SF
Asset Type
Office
Closing
Jun 11, 2024
AI
The office property located in New York's Midtown South area spans 200,000 square feet. The recent transaction involved a refinance loan amounting to $32,250,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $32,250,000
- Address: New York
- Market: Midtown South
- Asset Type: Office - SF: 200,000
- Brokers: Morris Betesh, Justin Boruchov & Jack McPhail - Meridian Capital Group
- Loan Type: Refinance
Justin Boruchov, Morris Betesh, and Jack McPhail from Meridian Capital Group actively participated as brokers in facilitating the loan refinance for the office property in New York's Midtown South market.
Players
Market 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93