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

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FINANCED
$225,000,000
Simon Ziff
Romano Tio
Marc Sznajderman

New York

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Other2,600,000 SF
Financed 11/30/2018
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Property Image
FINANCED

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

185 Broadway, New York, NY 10038, USA

See Similar Deals
Other2,600,000 SF
Financed 11/30/2018
Simon Ziff
Romano Tio
Marc Sznajderman
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$86
Total Square Footage:2,600,000 SF
Transaction Type:Loan

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
Simon Ziff
11 deals$2B volume
BROKER
Marc Sznajderman
Ackman-Ziff
Marc Sznajderman
6 deals$707.5M volume
BROKER
Romano Tio
Ackman-Ziff
Romano Tio
3 deals$473M volume
BROKER
Helaba
Helaba
LENDER

Details

FINANCED
IMAGE: Andrew Matthias and Marc Holliday DATE: 11/30/2018 ADDRESS: 185 Broadway ASSET TYPE: Rental tower LENDER: United Overseas Bank and the German bank Helaba LANDLORD/DEVELOPER: SL Green Realty BROKERS: Marc Sznajderman, Romano Tio and Simon Ziff – Ackman Ziff LOAN AMOUNT: $225,000,000 UNITS: 209 SF: 260,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$225,000,000.00

Monthly NOI$1,500,000.00
Monthly Debt Service$1,422,153.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00