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80 Lafayette Street

Ryan Freedman Of Corigin Secures $178M Refinance Loan For Student Housing At 80 Lafayette Street
FINANCEDStudent Housing

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

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:

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

Nick Scribani

Newmark

Broker

$56.7B

vol

201 deals

Broker
Apollo Global
Apollo GlobalLender
Corigin Real Estate
Corigin Real EstateLandlord

New York Student Housing Market Snapshot

Boundary boundary · Student Housing · Loan transactions

Loading comparables…

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