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809 Washington Street, New ...

Deutsche Pfandbriefbank Provides $123.4M Refinance Loan For Meatpacking District Retail Property
FINANCEDRetail

Deutsche Pfandbriefbank Provides $123.4M Refinance Loan For Meatpacking District Retail Property

809 Washington Street, New York City, New York 10014, United States

$123,400,000

$1,656/SF

Building Size

74,496 SF

Asset Type

Retail

Closing

Mar 31, 2022

AI

809 Washington St. in the Meatpacking District has been refinanced with a loan amount of $123,400,000. The retail property spans 74,496 square feet and is owned by Aurora Capital Associates, represented by Bobby Cayre. The loan was provided by Deutsche Pfandbriefbank, with Andreas Arndt, David McNeill, Andrew Fleming, and Jason Deck overseeing the transaction. The brokers responsible for the deal were Jordan Roeschlaub and Dustin Stolly from Newmark.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $123,400,000
  • Address: 809 Washington St.
  • Market: Meatpacking District
  • Landlord: Aurora Capital Associates - Bobby Cayre
  • Lender: Deutsche Pfandbriefbank - Andreas Arndt, David McNeill, Andrew Fleming, and Jason Deck
  • Brokers: Jordan Roeschlaub and Dustin Stolly - Newmark

The refinancing deal for 809 Washington St. involved key individuals such as Bobby Cayre from Aurora Capital Associates, who represented the landlord. Deutsche Pfandbriefbank provided the loan, and the transaction was facilitated by brokers Jordan Roeschlaub and Dustin Stolly from Newmark.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

268 deals

Broker
Deutsche Bank
Deutsche BankLender
Bobby Cayre

Bobby Cayre

Aurora Capital Associates

Landlord

$981.4M

vol

12 deals

Landlord

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

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