Hilson Management Secures $47.4M Refinance Loan For Office Building At 386 5th Avenue
386 5th Avenue
$47,400,000
$354/SF
Building Size
133,544 SF
Asset Type
Office
Closing
Mar 31, 2025
About this deal
AI
386 5th Avenue is an office asset located in the Garment District of Manhattan, covering a total area of 133,544 square feet. The property recently underwent refinancing, securing a loan amount of $47,400,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $47,400,000
- Lender: Ted Martell & David Aviram - Maverick Real Estate Partners
- Landlord: Jeremy Schwalbe - Hilson Management
- Previous Loan: $50,000,000 from Signature Bank
- Loan Type: Refinance
The refinancing transaction was facilitated by Ted Martell and David Aviram, who represent Maverick Real Estate Partners. Hilson Management, represented by Jeremy Schwalbe, coordinated the refinancing of the property.
On the Map
$47,400,000
$354/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93