Aareal Capital Corporation Provides $92.5M Loan For Office Building On 142 West 57th Street, Plaza District
FINANCED
$92,500,000
+ 2
New York
See Similar DealsOffice18,577 SF
Financed 03/26/2021
FINANCED
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
See Similar DealsOffice18,577 SF
Financed 03/26/2021
+ 2
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$4,979
Total Square Footage:18,577 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$92,500,000.00
Monthly NOI$616,666.67
Monthly Debt Service$584,662.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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