Wells Fargo Provides $165 Million Loan For 120 Wall Street Office Acquisition
120 Wall Street, Manhattan, New York, NY, USA & 120 Wall Street, Manhattan, New York, NY, USA
$165,000,000
$280/SF
Building Size
588,101 SF
Asset Type
Retail
Closing
Oct 7, 2020
AI
The property involved in this closed transaction is located at 120 Wall Street in the Financial District. It is an office asset with a total square footage of 582,415. The property falls under the C6-9, LM zoning.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $165,000,000
- Address: 120 Wall Street
- Market: Financial District
- Square Footage: 582,415 SF
The lender for this transaction was Wells Fargo, while the landlord was Silverstein Properties. The deal was brokered by Ackman Ziff, specifically represented by Simon Ziff, Russell Schildkraut, and Jason Krane.
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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93