SLGreen Realty Secures $360M Loan For Office Building At 100 Park Avenue In Midtown
100 Park Avenue, Manhattan, New York, NY, USA
$360,000,000
$398/SF
Building Size
903,000 SF
Asset Type
Office
Closing
Jan 3, 2021
About this deal
AI
A loan in the amount of $360M has been secured for an office property located at 100 Park Avenue in Midtown. The property spans across 903,000 square feet and is owned by @SLGreen_Realty. The lender for this transaction is Aareal Capital Corporation.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $360M
- Address: 100 Park Avenue
- Market: Midtown
- Lender: Aareal Capital Corporation
- Landlord: @SLGreen_Realty
The brokers involved in this deal are Steve Kohn, Alexander Hernandez, Adam Spies, Kevin Donner, Alex Lapidus, and Meredith Donovan from Cushman & Wakefield.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93