Morgan Stanley & Deutsche Bank Provide $75M Loan For Retail Property At 150 West 34th Street In Manhattan
150 West 34th Street
$75,000,000
$961/SF
Building Size
78,000 SF
Asset Type
Retail
Closing
Nov 15, 2023
About this deal
AI
The 78,000-square-foot retail property located at 150 West 34th Street in Manhattan has secured a mortgage financing of $75 million. The loan was provided by Morgan Stanley and Deutsche Bank. The property is situated near Manhattan's Penn Station, making it a prime location for retail businesses.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $75,000,000
- Address: 150 West 34th Street, Manhattan
- Market: Manhattan
- Lender: Morgan Stanley and Deutsche Bank
- Landlord: Steven Roth - Vornado Realty Trust
Morgan Stanley and Deutsche Bank jointly provided the mortgage financing for the retail property. The building's landlord is Steven Roth, who represents Vornado Realty Trust in the deal. This financing will enable the property to capitalize on its convenient location and attract successful retail businesses.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93