Fortress Investment Group Acquires Defaulted Mortgage On 125 Greenwich Street In Financial District From BH3 Capital Partners
125 Greenwich St, New York, NY 10013, USA
$230,000,000
$25,313/SF
Building Size
9,086 SF
Asset Type
Other
Closing
Mar 1, 2020
About this deal
AI
Fortress Investment Group, backed by SoftBank, has acquired a defaulted mortgage asset in the Financial District. The property, located at 125 Greenwich Street, was sold by BH3 Capital Partners for a price of $230,000,000. Despite its non-performing status, the asset presents an opportunity for Fortress Investment Group to potentially turn it around.
Summary of transaction details
- Property Type: Defaulted Mortgage
- Transaction Amount: $230,000,000
- Buyer: Fortress Investment Group – Wesley Edens & Rob Kauffman – backed by SoftBank – Masayoshi Son
- Seller: BH3 Capital Partners – Greg Freedman
This transaction includes key individuals such as Wesley Edens and Rob Kauffman from Fortress Investment Group, with Masayoshi Son representing SoftBank. Greg Freedman from BH3 Capital Partners served as the seller's representative in this deal.
On the Map
$230,000,000
$25,313/SF
Other
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Players
New York Other Market Snapshot
Boundary boundary · Other · Sale 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