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309 West 49th Street, New Y...

Goldman Sachs Provides $900M Loan For Office Building In Hudson Square
FINANCEDOffice

Goldman Sachs Provides $900M Loan For Office Building In Hudson Square

309 West 49th Street, New York, NY 10019

$900,000,000

$8,333/SF

Building Size

108,000 SF

Asset Type

Office

Closing

May 27, 2019

AI

One Soho Square, located in Hudson Square, was involved in a recent closed property transaction on May 28, 2019. The property, an office asset, attracted the attention of prominent individuals such as Adam Spies, Laurence Gluck, Steve Kohn, and David Solomon.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $900,000,000
  • Date: 05/28/2019
  • Address: One Soho Square
  • Market: Hudson Square

The loan for this transaction was provided by Goldman Sachs, with David Solomon representing the lender. The landlords involved in the deal were Stellar Management and Imperium Capital. Notable tenants in One Soho Square include Aetna, Glossier, and Warby Parker. The brokers for this transaction were Adam Spies, Steve Kohn, Alex Hernandez, Alex Lapidus, and Noble Carpenter, who represented CushWake.

Players

Alexander Hernandez

Cushman & Wakefield

Broker

$7.7B

vol

27 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$71.7B

vol

263 deals

Broker
Stellar Management
Stellar ManagementLender
Stellar Management
Stellar ManagementLandlord
G
GlossierTenant

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

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93