SL Green Realty's 185 Broadway Rental Tower Secures $225M Loan With United Overseas Bank And Helaba
185 Broadway, New York, NY 10038, USA
$225,000,000
$86/SF
Building Size
2,600,000 SF
Asset Type
Other
Closing
Nov 29, 2018
About this deal
AI
The rental tower located at 185 Broadway has been involved in a closed transaction. The property comprises 209 units and spans a total area of 260,000 square feet. The loan amount for this transaction was $225,000,000. The lenders involved in this deal were United Overseas Bank and the German bank helaba''>Helaba. The landlord and developer of this property is SL Green Realty. The brokers who facilitated this transaction were Marc Sznajderman, Romano Tio, and Simon Ziff from Ackman Ziff.
Summary of transaction details
- Property Type: Rental tower
- Transaction Amount: $225,000,000
- Address: 185 Broadway
- Units: 209
- Square Footage: 260,000
- Lenders: United Overseas Bank and Helaba
- Landlord/Developer: SL Green Realty
- Brokers: Marc Sznajderman, Romano Tio, and Simon Ziff - Ackman Ziff
The transaction was facilitated by the brokers Marc Sznajderman, Romano Tio, and Simon Ziff from Ackman Ziff. They worked alongside lenders United Overseas Bank and Helaba to finalize the deal. The landlord and developer of the rental tower, located at 185 Broadway, is SL Green Realty.
On the Map
$225,000,000
$86/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93