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Jacques Chappuis Of PGIM Real Estate Refinances 11 Times Square Office Tower For $507M
FINANCED
$507,000,000
New York
See Similar DealsOffice1,100,000 SF
Financed 10/03/2025
FINANCED
Jacques Chappuis Of PGIM Real Estate Refinances 11 Times Square Office Tower For $507M
11 Times Sq
See Similar DealsOffice1,100,000 SF
Financed 10/03/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$460
Total Square Footage:1,100,000 SF
Transaction Type:Loan
The asset involved in this transaction is an office property located at 11 Times Square in Manhattan, with a square footage of 1,100,000. The property was involved in a refinance deal, with a loan amount of $507,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $507,000,000
- Address: 11 Times Sq
- Market: Manhattan
- Lender: J.P. Morgan Chase, Wells Fargo, Deutsche Bank
- Landlord: Jacques Chappuis - PGIM Real Estate
- Loan Type: Refinance
The refinancing of the mortgage was facilitated through a CMBS deal led by J.P. Morgan, Wells Fargo, and Deutsche Bank, with Jacques Chappuis representing PGIM Real Estate, the landlord of the property.
Players
LENDER
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$507,000,000.00
Monthly NOI$3,380,000.00
Monthly Debt Service$3,204,584.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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