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SL Green Realty, National Pension Service Of Korea & Hines Secure $1.25B Loan For Mixed Use Property At 1 Madison Avenue

Property Image
FINANCED
$1,250,000,000

New York

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Mixed-use1,400,000 SF
Financed 11/16/2020
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Property Image
FINANCED

SL Green Realty, National Pension Service Of Korea & Hines Secure $1.25B Loan For Mixed Use Property At 1 Madison Avenue

1 Madison Avenue, Flatiron

See Similar Deals
Mixed-use1,400,000 SF
Financed 11/16/2020
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$892
Total Square Footage:1,400,000 SF
Transaction Type:Loan

1 Madison Avenue, located in the Flatiron market, was involved in a closed property transaction. The mixed-use asset was financed by Wells Fargo, TD Bank, Goldman Sachs, Bank of America, Deutsche Bank, and Axos Bank, with a loan amount of $1,250,000,000. The property has a total square footage of 1,400,000 and is owned by SL Green Realty, National Pension Service of Korea, and Hines.

Summary of transaction details

The deal involved Andrew Mathias, David Solomon, and Marc Holliday. Andrew Mathias, David Solomon, and Marc Holliday represent the respective parties in the transaction.

Players

LENDER

TD Bank
LENDER




Axos Bank
LENDER

Hines
LANDLORD

SL Green
LANDLORD

Details

FINANCED
IMAGE: Andrew Mathias, David Solomon & Marc Holliday DATE: 11/16/2020 ADDRESS: 1 Madison Avenue MARKET: Flatiron ASSET TYPE: Mixed Use LENDER: Wells Fargo, TD Bank, Goldman Sachs, Bank of America, Deutsche Bank & Axos Bank LANDLORD: SL Green Realty, National Pension Service of Korea & Hines AMOUNT: $1,250,000,000 BSF: 1,400,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,250,000,000.00

Monthly NOI$8,333,333.33
Monthly Debt Service$7,900,850.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00