New York Community Bank Provides $77M Refinance Loan For 142,000 SF Office Building On 5th Ave. In Midtown South
130 5th Avenue
$77,000,000
$542/SF
Building Size
142,000 SF
Asset Type
Office
Closing
Jul 28, 2022
About this deal
AI
The property involved in this closed transaction is an office building located at 130 5th Ave. in Midtown South. The property spans approximately 142,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $77,000,000
- Address: 130 5th Ave.
- Market: Midtown South
The lender for this transaction is New York Community Bank. The landlord of the property is the Olnick Organization, represented by Seth Schochet. The brokers involved in the deal are Jonathan Schwartz, Aaron Appel, Keith Kurland, and Adam Schwartz from Walker & Dunlop.
The loan provided for this transaction is a $77,000,000 refinance loan. It has a fixed rate and a term of 12 years.
On the Map
$77,000,000
$542/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93