Apple Bank For Savings Provides $84M Refinance Loan For Office Property On Sixth Avenue, Midtown Manhattan
1271 6th Avenue, Manhattan, New York, NY, USA
$84,000,000
$42/SF
Building Size
1,962,900 SF
Asset Type
Office
Closing
Oct 1, 2021
About this deal
AI
The property involved in this closed transaction is an office located at 1271 Sixth Avenue in Midtown. The property is owned by Daniel J. Moore, who is represented by Rockefeller Group. The transaction took place on 10/01/2021.
Summary of transation details
- Property Type: Office
- Transaction Amount: $84,000,000
- Market: Midtown
- Address: 1271 Sixth Avenue
- Lender: Apple Bank for Savings
- Landlord: Daniel J. Moore - Rockefeller Group
- Loan Type: Refinance
The loan for this transaction was provided by Apple Bank for Savings. The refinance loan amount was $84,000,000.
On the Map
$84,000,000
$42/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93