Apple Bank Provides $15.5M Loan For Refinance Of Manhattan Office At 120 5th Avenue
120 5th Avenue
$15,500,000
$221/SF
Building Size
70,000 SF
Asset Type
Office
Closing
Jan 24, 2024
AI
The property involved in this closed transaction is an office space located at 120 5th Avenue in Manhattan. The property spans a total of 70,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,500,000
- Market: Manhattan
- Lender: Apple Bank
- Landlord: The Bromley Companies
- Brokers: Scott Singer, Jeffrey Moroch, and Dina Wetchler - Avison Young
- Loan Type: Refinance
The loan amount for this transaction is $15,500,000, provided by Apple Bank. The landlord for the property is The Bromley Companies. The brokers involved in the deal are Scott Singer, Jeffrey Moroch, and Dina Wetchler from Avison Young.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93