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172 Madison Ave, New York, ...

Tessler Development Secures $94.5M Loan From Deutsche Bank For Residential Condo On Madison Ave
FINANCED

Tessler Development Secures $94.5M Loan From Deutsche Bank For Residential Condo On Madison Ave

172 Madison Ave, New York, NY 10016, USA

$94,500,000

$8,789/SF

Building Size

10,752 SF

Asset Type

Closing

Sep 4, 2018

AI

172 Madison Avenue, a residential condo located in Midtown South, has been involved in a closed property transaction. The property, owned by Tessler Development, was the subject of a deal with a loan from Deutsche Bank in the amount of $94,500,000.

Summary of transaction details

  • Property Type: Residential Condo
  • Transaction Amount: $94,500,000
  • Lender: Deutsche Bank (@deutschebank)
  • Landlord: Tessler Development

In addition to the loan from Deutsche Bank, other key individuals and companies involved in the deal include Yitzhak Tessler and Christian Sewing. Yitzhak Tessler represents Tessler Development, while Christian Sewing represents Deutsche Bank.

Players

Deutsche Bank
Deutsche BankLender

New York CRE Market Snapshot

Boundary boundary · CRE · 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