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142 West 57th Street, New Y...

Aareal Capital Corporation Provides $92.5M Loan For Office Building On 142 West 57th Street, Plaza District
FINANCEDOffice

Aareal Capital Corporation Provides $92.5M Loan For Office Building On 142 West 57th Street, Plaza District

142 West 57th Street, New York, NY, USA

$92,500,000

$4,979/SF

Building Size

18,577 SF

Asset Type

Office

Closing

Mar 25, 2021

AI

The property asset involved in this transaction is an office located at 142 West 57th Street in the Plaza District. The loan amount for this transaction is $92,500,000. The lender in this deal is Aareal Capital Corporation, and the landlord is L&L Holding Company.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $92,500,000
  • Address: 142 West 57th Street
  • Market: Plaza District

The key individuals and companies involved in this transaction include Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler from Walker & Dunlop who acted as brokers representing the buyer, seller, landlord, and tenant, respectively.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
LC
L&L Holding CompanyLandlord

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93