Rockrose Development Acquires Rental Property At 555 West 38th Street In Midtown Manhattan For $255M
FINANCED
$255,000,000
New York
See Similar DealsOther22,225 SF
Financed 11/30/2020
FINANCED
Rockrose Development Acquires Rental Property At 555 West 38th Street In Midtown Manhattan For $255M
555 W 38th St, New York, NY 10018, USA
See Similar DealsOther22,225 SF
Financed 11/30/2020
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$11,473
Total Square Footage:22,225 SF
Transaction Type:Loan
The rental property located at 555 West 38th Street in Midtown has been involved in a closed transaction. The property is owned by Rockrose Development, specifically Henry Elghanayan & Justin Elghanayan. The loan for this transaction was provided by Wells Fargo for a total amount of $255,000,000.
Summary of transaction details:
- Property Type: Rental
- Transaction Amount: $255,000,000
- Address: 555 West 38th Street
- Market: Midtown
- Landlord: Rockrose Development - Henry Elghanayan & Justin Elghanayan
- Lender: Wells Fargo
The involvement of Rockrose Development, Henry Elghanayan, Justin Elghanayan, and Wells Fargo in this transaction highlights the key individuals and companies behind the deal. The property's location in Midtown and the substantial loan amount contribute to the significance of this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$255,000,000.00
Monthly NOI$1,700,000.00
Monthly Debt Service$1,611,773.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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