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
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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93