SOLDNote / Loan
Benenson Capital Partners Acquires Note / Loan For $51M From Bank Of America At 400 Park Avenue
400 Park Avenue
$51,000,000
$204/SF
Building Size
250,000 SF
Asset Type
Note / Loan
Closing
Dec 28, 2022
About this deal
AI
The property involved in this transaction is located at 400 Park Avenue in Midtown East. The asset type is a Note / Loan. The property has a total square footage of 250,000 square feet, and the sale price for this transaction was $51,000,000. The price per square foot (PPSF) is $204.
Summary of transaction details
- Property Type: Note / Loan
- Transaction Amount: $51,000,000
- Address: 400 Park Avenue
- Market: Midtown East
The buyer in this transaction is Benenson Capital Partners, while the seller is Bank Of America. The brokers involved in this deal are Adam Spies, Avery Silverstein, and Joshua King from Cushman & Wakefield.
On the Map
$51,000,000
$204/SF
Note / Loan
View full map
Players
Market Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
Loading comparables…
Deal FAQ
Visit Joshua King to view all their deals.
Browse New York note / loan sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93