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
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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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