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Nordic Trustee & Agency AB Provides $100M Loan For Multifamily Property At 417 Park Avenue In Midtown East

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FINANCED
$100,000,000

New York

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MultiFamily89,651 SF
Financed 06/04/2020
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Property Image
FINANCED

Nordic Trustee & Agency AB Provides $100M Loan For Multifamily Property At 417 Park Avenue In Midtown East

417 Park Avenue, New York, NY 10022

See Similar Deals
MultiFamily89,651 SF
Financed 06/04/2020
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,115
Total Square Footage:89,651 SF
Transaction Type:Loan

This multifamily property located at 417 Park Avenue in Midtown East has been involved in a recent loan transaction. The loan was provided by Nordic Trustee & Agency AB for a total amount of $100,000,000. The property spans across 89,651 square feet. The loan was secured by the landlords, @KlovernAB and @GDSNY.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $100,000,000
  • Address: 417 Park Avenue
  • Market: Midtown East
  • Loan Provider: Nordic Trustee & Agency AB
  • Landlords: @KlovernAB and @GDSNY
  • Square Footage: 89,651 SF

Alan Rudikoff, Michael Kirchmann, and Rutger Arnhult are the key individuals involved in the deal as mentioned in the provided image. They represent the lenders and landlords in the transaction. It is worth noting that the property has the potential for an office development, with a maximum allowable square footage of 218,125 BSF as of right.

Players

LENDER

Details

FINANCED
IMAGE: Rudikoff, Michael Kirchmann & Rutger Arnhult DATE: 06/04/2020 ADDRESS: 417 Park Avenue MARKET: Midtown East ASSET TYPE: Multifamily LENDER: Nordic Trustee & Agency AB LANDLORD: @KlovernAB & @GDSNY LOAN AMOUNT: $100,000,000 SF: 89,651 NOTE: The site allows for 218,125 BSF as of right for an Office development.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$100,000,000.00

Monthly NOI$666,666.67
Monthly Debt Service$632,068.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00