Metro Loft - Nathan Berman Secures $320M Permanent Loan For Financial District Rental Property
20 Broad Street, New York, NY, USA
$320,000,000
$16,020/SF
Building Size
19,975 SF
Asset Type
Retail
Closing
Sep 10, 2019
AI
The permanent loan for the rental property at 20 Broad Street in the Financial District has been finalized. The loan amount is $320,000,000.
Summary of transaction details:
- Property Type: Rental
- Transaction Amount: $320,000,000
- Landlord: Metro Loft - Nathan Berman
- Lenders: Apollo & Shinhan
- Brokers: Max Herzog, Marko Kazanjian, Brett Rosenberg
Max Herzog, Marko Kazanjian, and Brett Rosenberg were the brokers involved in the deal. Nathan Berman represented the landlord, Metro Loft. Apollo and Shinhan served as the lenders for the transaction.
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93