Wells Fargo Lends $120M For Retail Building At 4 Union Square South In Manhattan
4 Union Square E S, New York, NY 10003, USA
$120,000,000
$600/SF
Building Size
200,000 SF
Asset Type
Retail
Closing
Aug 13, 2018
About this deal
AI
Located at 4 Union Square South in Manhattan, this retail building was recently involved in a closed property transaction. The property spans 200,000 square feet and is owned by Vornado Realty Trust. The deal was financed by Wells Fargo, with a loan amount of $120,000,000.
Summary of transaction details
- Property Type: Retail Building
- Transaction Amount: $120,000,000
- Address: 4 Union Square South
- Market: Manhattan
- City: New York
- Lender: Wells Fargo
- Landlord: Vornado Realty Trust
- SF: 200,000
Representatives from both Wells Fargo and Vornado Realty Trust played key roles in this transaction, ensuring its successful completion. The involvement of these individuals and companies highlights their active participation in the New York real estate market.
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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93