Updated Mar 6, 2025
Ryan Freedman Of Corigin Secures $178M Refinance Loan For Student Housing At 80 Lafayette Street
80 Lafayette Street
$178,000,000
$560/SF
Building Size
317,464 SF
Asset Type
Student Housing
Closing
Feb 28, 2025
About this deal
AI
The asset involved in this transaction is a student housing property located at 80 Lafayette Street in Manhattan. The property encompasses a total square footage of 317,464 and secured a loan amount of $178,000,000 through a refinance arrangement.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $178,000,000
- Lender: Mark Rowan - Apollo
- Landlord: Ryan Freedman - Corigin
- Brokers: Jordan Roeschlaub, Nick Scribani & Christopher Kramer - Newmark
- Loan Type: Refinance
This transaction involves several key individuals and firms. Mark Rowan served as the lender from Apollo, while Ryan Freedman represented the landlord from Corigin. The brokerage team from Newmark includes Jordan Roeschlaub, Nick Scribani, and Christopher Kramer, who played a role in facilitating the deal.
Players
New York Student Housing Market Snapshot
Boundary boundary · Student Housing · 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
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93