Updated Jul 16, 2025
Extell Acquires Dev Site In Plaza District, JPMorgan Chase Provides $340M Loan
13 W 46th St, New York, NY 10036, USA
$340,000,000
Building Size
—
Asset Type
Development Site
Closing
Dec 17, 2019
About this deal
AI
A development site located at 3, 5, 7, 9, 11, and 13 West 46th Street in the Plaza District has been sold in a closed transaction. The property, which encompasses multiple lots, was acquired for a total loan amount of $340,000,000. The transaction took place on December 18, 2019, and involved key individuals such as Jamie Dimon, the CEO of JPMorgan Chase, who provided the loan, and Gary Barnett, the founder of Extell, who acted as the landlord.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $340,000,000
- Lender: JPMorgan Chase - Jamie Dimon
- Landlord: Extell - Gary Barnett
Jamie Dimon, representing JPMorgan Chase, served as the lender in the deal, providing the loan amount of $340,000,000. Gary Barnett, the founder of Extell, acted as the landlord. Together, they facilitated the closed transaction for the development site located at 3, 5, 7, 9, 11, and 13 West 46th Street in the Plaza District.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93