JPMorgan Chase Provides $80M Refinance Loan For Midtown East Hotel & Retail Property
35 East 50th Street, New York City, New York 10022, United States
$80,000,000
$92/SF
Building Size
866,090 SF
Asset Type
Hotel
Closing
Jun 16, 2022
About this deal
AI
The property involved in the transaction is a Hotel & Retail asset located at 35 East 50th Street, 455 & 457 Madison Avenue in Midtown East. The total square footage of the property is 866,090. The transaction date is 06/17/2022. The property is owned by the Archdiocese of New York.
Summary of transaction details
- Property Type: Hotel & Retail
- Transaction Amount: $80,000,000
- Market: Midtown East
- Lender: JPMorgan Chase
- Loan Type: Refinance
The lender for this transaction is JPMorgan Chase, providing a loan amount of $80,000,000. The loan type is a refinance. It's important to note that Jamie Dimon, the CEO of JPMorgan Chase, is featured in the provided image.
On the Map
$80,000,000
$92/SF
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93