Witkoff And Access Industries Secure $1.2 Billion Refinance Loan From J.P. Morgan And TYKO Capital
500 West 18th Street
$1,200,000,000
$1,596/SF
Building Size
751,691 SF
Asset Type
Mixed-use
Closing
Aug 16, 2024
About this deal
AI
The property asset involved in the transaction is a mixed-use building located at 500 West 18th Street in Manhattan. The asset encompasses a total square footage of 751,691. The loan amount for the property is $1,200,000,000 and the loan type is refinance.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,200,000,000
- Address: 500 West 18th Street
- Market: Manhattan
- Lender: J.P. Morgan & TYKO Capital
- Landlord: Witkoff & Access Industries
- Brokers: Aaron Appel, Keith Kurland, Jonathan Schwartz & Adam Schwartz - Walker & Dunlop
Key individuals involved in the deal include Aaron Appel, Len Blavatnik, Keith Kurland, Steve Witkoff, Jonathan Schwartz, Alex Witkoff, and Adam Schwartz. Their roles are significant in the refinancing process of this mixed-use property.
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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93