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Witkoff And Access Industries Secure $1.2 Billion Refinance Loan From J.P. Morgan And TYKO Capital

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FINANCED
$1,200,000,000
Adam Schwartz
Aaron Appel
+ 1

New York

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Mixed-use751,691 SF
Financed 08/16/2024
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Property Image
FINANCED

Witkoff And Access Industries Secure $1.2 Billion Refinance Loan From J.P. Morgan And TYKO Capital

500 West 18th Street

See Similar Deals
Mixed-use751,691 SF
Financed 08/16/2024
Adam Schwartz
Aaron Appel
+ 1
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,596
Total Square Footage:751,691 SF
Transaction Type:Loan

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:

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

Aaron Appel
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

J.P. Morgan Chase
LENDER

Details

FINANCED
IMAGE: Aaron Appel, Len Blavatnik, Keith Kurland, Steve Witkoff, Jonathan Schwartz, Alex Witkoff & Adam Schwartz DATE: 08/16/2024 ADDRESS: 500 West 18th Street MARKET: Manhattan ASSET TYPE: Mixed-use ~ SF: 751,691 LENDER: J.P. Morgan (@JPMorgan) & TYKO Capital LANDLORD: Witkoff (@WitkoffCo) & Access Industries BROKERS: Aaron Appel, Keith Kurland (@KaKurland), Jonathan Schwartz (@JonSchwartz) & Adam Schwartz (@AdamSchwartz88) - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $1,200,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,200,000,000.00

Monthly NOI$8,000,000.00
Monthly Debt Service$7,584,816.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00