Related Companies Secures $102.5M Loan From Canadian Imperial Bank Of Commerce For Theater District Office
321 West 44th Street, New York, NY, USA
$102,500,000
$416/SF
Building Size
246,000 SF
Asset Type
Office
Closing
Dec 26, 2018
About this deal
AI
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
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93