Ran Eliasaf Of Northwind Group Provides $90 Million Acquisition Loan For Office At 675 3rd Avenue
675 3rd Avenue
$90,000,000
$263/SF
Building Size
342,000 SF
Asset Type
Office
Closing
Apr 11, 2025
AI
The property involved in this transaction is an office asset located at 675 3rd Avenue in the Turtle Bay market. The total square footage of the property is 342,000. The acquisition loan amount totals $90,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $90,000,000
- Address: 675 3rd Avenue
- Market: Turtle Bay
- Asset Size: 342,000 SF
- Lender: Ran Eliasaf - Northwind Group
- Landlord: David Werner - David Werner Real Estate Investments
- Landlord: Nathan Berman - Metro Loft Management
- Landlord's Representatives: Jordan Roeschlaub, Nick Scribani & Adam Spies - Newmark
- Loan Type: Acquisition
This transaction feature key individuals including the lender Ran Eliasaf from Northwind Group and brokers Jordan Roeschlaub, Nick Scribani, and Adam Spies representing the landlords from Newmark. The landlords include David Werner of David Werner Real Estate Investments and Nathan Berman from Metro Loft Management.
Players
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93