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
About this deal
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:
- Property Type: Mixed-use
- Transaction Amount: $170,000,000
- Address: 122 Fifth Avenue
- Market: Flatiron
- Loan Lender: PCCP LLC - Brian Haber
- Landlord: Bromley Companies - Neal McGraw, William Haines, and Nicholas Haines
- Brokers: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Bastian, and Michael Ianno - Walker & Dunlop Inc.
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.
On the Map
$170,000,000
$566/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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93