MassMutual Provides $85M Loan For Mixed-use Property At 162 5th Avenue In Flatiron
162 5th Avenue, Manhattan, New York, NY, USA
$85,000,000
$607/SF
Building Size
140,000 SF
Asset Type
Mixed-use
Closing
Sep 27, 2018
AI
The property involved in this closed transaction is a mixed-use asset located at 162 5th Avenue in the Flatiron market. It spans across 140,000 square feet and has recently undergone a loan transaction.
Summary of transaction details
- Property Type: Mixed Use
- Loan Amount: $85,000,000
- Loan Terms: 30 Year Self-amortizing loan
- Lender: MassMutual
- Landlord: ABS Partners
- Brokers: Brian Warwick (Principal, ABS Altman Warwick), Morris Dweck (Associate Broker)
The loan was provided by MassMutual, while ABS Partners acted as the landlord in this transaction. The brokers involved in the deal are Brian Warwick, Principal of ABS Altman Warwick, and Morris Dweck, an Associate Broker. They represented the respective parties in the transaction.
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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93