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450 W 33rd St, New York, NY...

Updated Apr 3, 2025

M&T Bank Provides $184M Loan For Retail Property At 5 Manhattan West, Far West Side
FINANCEDRetail

M&T Bank Provides $184M Loan For Retail Property At 5 Manhattan West, Far West Side

450 W 33rd St, New York, NY 10001, USA

$184,000,000

$1,343/SF

Building Size

136,997 SF

Asset Type

Retail

Closing

Sep 2, 2019

About this deal

AI

The retail property located at 5 Manhattan West on the Far West Side has recently undergone a closed transaction. The property, which features a prime location in a bustling market, was involved in a deal between the landlord, Brookfield Property Partners, and the tenant, Whole Foods. The transaction, facilitated by M&T Bank, involved a loan amount of $184,000,000.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $184,000,000
  • Lender: M&T Bank
  • Landlord: Brookfield Property Partners
  • Tenant: Whole Foods
  • Address: 5 Manhattan West
  • Market: Far West Side

The deal's key individuals and companies include M&T Bank, acting as the lender, and Brookfield Property Partners, representing the landlord. Whole Foods serves as the tenant in this transaction, further solidifying their presence in the retail market.

Players

WF
Whole FoodsTenant

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Deal FAQ

About $1.3K per square foot on a published $184M for 136,997 square feet (2019).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.09%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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