Re: Fwd: e-mail test
rent increases, ?? capital improvements,, at the end
of 20 yrs, I have an old building....why does he want
me??..how much can we borrow against it,
--- DKIESQ@aol.com wrote:
Antony asked me to forward this to you to see if you
have any interest.
Anthony needs $1 MM by Friday.Darren K. Indyke
Attorney-At-Law
457 Madison Avenue
4th Floor
New York, New York 10022
Tel: 212-750-1176
Fax: 212-750-0381
e-mail: dkiesq@aol.com (mailto:dkiesq@aol.com)Confidentiality Notice: This communication and any
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law.From: OSSA1@aol.com
Date: Mon, 7 Aug 2006 15:28:53 EDT
Subject: Re: e-mail test
To: DKIESQ@aol.comDarren:
Thanks for sending this to Jeffrey.The deal involves the purchase of the Capital
Records building in Hollywood.
The land area is 81,000 SF and the existing bldg is
about 110,000 SF. The
tenant EMI, will triple net lease the building for
20 yrs and pay about $2.4
M for office and parking. There is an additional
220-250,000 SF of
development rights attached to this.Purchase price is $50M.
It is prudent to allocate $35M to the existing
structure and the remaining
$15M to the development part of the deal. This is a
very strategic site in a
larger potential development that the City intends
to pursue. We have been
in discussions with adjacent owners and believe that
there is good upside
here.( both residential and commercial).The worst case is you own a trophy asset yielding
6.5% on the $35M and $15M
for development rights ( more risky)Right now we will need $1M at contract signing -
within one week. Another
$500,000 after due diligence and closing in two
months.Anthony
Anthony Barrett
Ossa Properties, Inc.
30 East 60th St. #403
New York, NY 10022212 702-8818
212 702-8814 FAX
www.ossaproperties.com
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