MassMutual Provides $85M Loan For Mixed-use Property At 162 5th Avenue In Flatiron
FINANCED
$85,000,000
New York
See Similar DealsMixed-use140,000 SF
Financed 09/28/2018
FINANCED
MassMutual Provides $85M Loan For Mixed-use Property At 162 5th Avenue In Flatiron
162 5th Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use140,000 SF
Financed 09/28/2018
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$607
Total Square Footage:140,000 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$85,000,000.00
Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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