M&T Bank Provides $184M Loan For Retail Property At 5 Manhattan West, Far West Side
FINANCED
$184,000,000
New York
See Similar DealsRetail136,997 SF
Financed 09/03/2019
FINANCED
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
See Similar DealsRetail136,997 SF
Financed 09/03/2019
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$1,343
Total Square Footage:136,997 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$184,000,000.00
Monthly NOI$1,226,666.67
Monthly Debt Service$1,163,005.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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