Related Companies Secures $102.5M Loan From Canadian Imperial Bank Of Commerce For Theater District Office
SOLD
$102,500,000
New York
See Similar DealsOffice246,000 SF
Sold 12/27/2018
SOLD
Related Companies Secures $102.5M Loan From Canadian Imperial Bank Of Commerce For Theater District Office
321 West 44th Street, New York, NY, USA
See Similar DealsOffice246,000 SF
Sold 12/27/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$416
Total Square Footage:246,000 SF
Transaction Type:Sale
The office building located at 321 West 44th Street in the Theater District has been involved in a recent loan transaction. The property, owned by The Related Companies, secured a loan from the Canadian Imperial Bank of Commerce (CIBC) for an amount of $102,500,000. The office space spans across 246,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $102,500,000
- Address: 321 West 44th Street
- Market: Theater District
- Landlord: The Related Companies
- Lender: Canadian Imperial Bank of Commerce (CIBC)
The CIBC provided the loan to The Related Companies for the office building at 321 West 44th Street. This transaction highlights the involvement of the Canadian Imperial Bank of Commerce as the lender and The Related Companies as the landlord of the property.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$364,160.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$485,902.29
Annual Debt Service$5,830,827.52
Is there something missing? Send suggestions