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185 Broadway, New York, NY ...

SL Green Realty's 185 Broadway Rental Tower Secures $225M Loan With United Overseas Bank And Helaba
FINANCEDOther

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

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.

Players

Simon Ziff

Ackman-Ziff

Broker

$2.2B

vol

12 deals

Broker
Helaba
HelabaLender

New York Other Market Snapshot

Boundary boundary · Other · Loan transactions

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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