HFZ Capital Group And Westbrook Partners Refinance Luxury Rentals At The Belnord In Upper West Side
225 W 86th St, New York, NY 10024, USA
$300,000,000
$441/SF
Building Size
680,000 SF
Asset Type
Other
Closing
May 8, 2018
About this deal
AI
The Belnord, located at 225 West 86th Street in New York City's Upper West Side, has undergone a refinancing transaction. The luxury rental property, spanning 680,000 square feet, was involved in a closed transaction.
Summary of transaction details
- Property Type: Luxury rentals
- Transaction Amount: $300,000,000
- Landlord: HFZ Capital Group – Ziel Feldman and Westbrook Partner – Sush Torgalkar
- Lender: Wells Fargo – Timothy J. Sloan
The deal was facilitated by HFZ Capital Group, represented by Ziel Feldman, and Westbrook Partner, represented by Sush Torgalkar, who acted as the landlord. The lender, Wells Fargo, was represented by Timothy J. Sloan. No additional details were available regarding this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93