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122 Fifth Avenue, Flatiron ...

Bromley Companies Secures $170M Loan For Mixed-Use Property At 122 Fifth Avenue
FINANCEDMixed-use

Bromley Companies Secures $170M Loan For Mixed-Use Property At 122 Fifth Avenue

122 Fifth Avenue, Flatiron District, New York, NY, USA

$170,000,000

$566/SF

Building Size

300,000 SF

Asset Type

Mixed-use

Closing

Dec 4, 2021

AI

The property involved in the transaction is a mixed-use asset located at 122 Fifth Avenue in the Flatiron market. It spans approximately 300,000 square feet in size.

Summary of transaction details:

The loan for the transaction was provided by PCCP LLC, with Brian Haber representing the lender. The property's landlord is Bromley Companies, with Neal McGraw, William Haines, and Nicholas Haines involved in the deal. The brokers who facilitated the transaction are Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Bastian, and Michael Ianno from Walker & Dunlop Inc.

Players

Aaron Appel

Walker & Dunlop

Broker

$33.4B

vol

199 deals

Broker
BC
Bromley CompaniesLandlord

Nicholas Haines

Bromley Companies

Landlord

$389.1M

vol

5 deals

Landlord

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

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93