Bank Of America Provides $365M Loan For Office Building At 101 Park Avenue, Midtown NYC
101 Park Ave, New York, NY 10017, USA
$365,000,000
$335/SF
Building Size
1,088,389 SF
Asset Type
Office
Closing
Aug 8, 2018
About this deal
AI
The office building located at 101 Park Avenue in Midtown, New York has been involved in a transaction. The property, owned by HJ Kalikow, was part of a deal that included a loan amount of $365,000,000 from Bank of America. The transaction took place on August 9, 2018.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $365,000,000
- Address: 101 Park Avenue
- Market: Midtown
- City: New York
- Lender: Bank of America
- Landlord/Developer: HJ Kalikow
The deal was facilitated by Brian Moynihan representing Bank of America and the Wilson Group representing HJ Kalikow. These individuals played crucial roles in the successful completion of the transaction.
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