JPMorgan Chase Provides $290M Construction Loan For Mixed-Use Property In Times Square
1 Times Sq, New York City, New York 10001, United States
$290,000,000
$2,597/SF
Building Size
111,653 SF
Asset Type
Mixed-use
Closing
Apr 11, 2022
About this deal
AI
The mixed-use property at 1 Times Square in Times Square has been involved in a recent transaction. Spanning a total of 111,653 square feet, the property boasts a prime location in the bustling market of Times Square. Unfortunately, no additional information is available about the property.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $290,000,000
- Address: 1 Times Square
- Market: Times Square
- Loan Type: Construction
Jamestown, the landlord of the property, entered into a loan agreement with JPMorgan Chase for a substantial amount of $290,000,000. The loan, classified as a construction loan, will likely be used to finance development or renovation activities related to the property. Unfortunately, no additional information is available about the individuals involved in the transaction.
On the Map
$290,000,000
$2,597/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93