Brookfield Property Partners & Swig Company Secure $1.3B Loan For Midtown Office Building
1114 6th Ave, New York, NY 10036, USA
$1,300,000,000
$866/SF
Building Size
1,500,000 SF
Asset Type
Office
Closing
Nov 4, 2020
About this deal
AI
The property at 1114 Sixth Avenue in Midtown has been involved in a recent transaction. The office building, with a total square footage of 1,500,000, is owned by Brookfield Property Partners and the Swig Company. The transaction took place on 11/05/2020. Notable tenants in the building include Sweetgreen, SyBase, HumanScaleHQ, CampariUSA, IStar Financial, and Brookfield Financial.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,300,000,000
- Lenders: Bank of America, JPMorgan Chase, Credit Suisse, and Deutsche Bank
- Landlords: Brookfield Property Partners and Swig Company
- Loan Terms: 10-year, fixed-rate, interest-only
Jim Carbone, Ric Clark, and Jamie Dimon played important roles in the transaction. Carbone, representing Bank of America, Clark, representing JPMorgan Chase, and Dimon from Credit Suisse and Deutsche Bank were all involved in securing the loan for the property.
Note: No additional information about the property or the transaction was provided in the given context.
On the Map
$1,300,000,000
$866/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93