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666 5th Ave, New York, NY 1...

Updated Sep 30, 2025

ING Capital Provides $750M Refinance Loan For Office Condo At 666 Fifth Avenue In Midtown West, Manhattan
FINANCEDCondo

ING Capital Provides $750M Refinance Loan For Office Condo At 666 Fifth Avenue In Midtown West, Manhattan

666 5th Ave, New York, NY 10019, United States

$750,000,000

$750,000,000/SF

Building Size

1 SF

Asset Type

Condo

Closing

Apr 17, 2023

About this deal

AI

Located in Midtown West, Manhattan, the office condo at 666 Fifth Avenue recently underwent a refinancing transaction. The property spans an area of 1,169,666 square feet, making it a significant asset in the market. The lender for this deal was ING Capital, with Craig R. Bender and Jeffrey Schwartz representing the company. The loan amount agreed upon for the refinancing was $750,000,000. The landlord of the property is Brookfield Properties, and Sabrina Khabie is associated with the company.

Summary of Transaction Details

  • Property Type: Office Condo
  • Transaction Amount: $750,000,000
  • Address: 666 Fifth Avenue
  • Market: Midtown West, Manhattan
  • Square Footage: 1,169,666 SF
  • Lender: ING Capital - Craig R. Bender & Jeffrey Schwartz
  • Landlord: Brookfield Properties - Sabrina Khabie

This transaction involved various professionals and entities. The lender, ING Capital, was represented by Craig R. Bender and Jeffrey Schwartz. On the other hand, the landlord, Brookfield Properties, had Sabrina Khabie as its representative. By refinancing the office condo at 666 Fifth Avenue, this deal highlights the efforts made by these individuals and companies to evolve the property's financial structure.

Players

Brookfield Properties
Brookfield PropertiesBrokerage

Sabrina Khabie

Landlord

$855M

vol

2 deals

Landlord

New York Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Deal FAQ

About $750M per square foot on a published $750M for 1 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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