The Widener Building
A mixed-use property in Philadelphia, Pennsylvania. Securitized in 1 CMBS deal in 2023.
$92.7MAppraised value (latest deal)
93.2%Occupancy
$6.7MUnderwritten NOI
7.3%Implied cap rate
- Address
- 1337 Chestnut Street, Philadelphia, PA 19107
- Property type
- Mixed Use · Office/Retail/Court
- Year built
- 1916
- Size
- 441,696 SF
- Sponsor
- Abraham Leser, Robert Schachter and Harry Gold
- Loan purpose
- Refinance
- Largest tenant
- Philadelphia Municipal Court - Criminal Division
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMO 2023-5C1 | 2023-08-16 | $92.7M | 93.2% | $6.7M | 7.3% | $27.0M | 53.9% | 1.65x | 424B |
Historical NOI reported in BMO 2023-5C1
| Period ending | NOI |
|---|---|
| 2/28/2023 | $7.2M |
| 12/31/2022 | $6.4M |
| 12/31/2021 | $6.3M |
More CMBS properties in Pennsylvania →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.