Fortress Investment Group Provides $100M Refinance Loan For Office Building On 135 East 57th Street
135 East 57th Street, New York City, New York 10022, United States
$100,000,000
$251/SF
Building Size
397,354 SF
Asset Type
Office
Closing
Sep 14, 2022
AI
An office property located at 135 East 57th Street in Midtown East has recently undergone a loan refinancing transaction. The property spans a total square footage of 397,354 and is owned by Cohen Brothers Realty, represented by Charles S. Cohen, while the lending institution involved in the deal is Fortress Investment Group, represented by Avraham Dreyfuss.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $100,000,000
- Address: 135 East 57th Street
- Market: Midtown East
Avraham Dreyfuss, representing Fortress Investment Group, provided a loan amount of $100,000,000 to Cohen Brothers Realty for the refinancing of the office property at 135 East 57th Street. Cohen Brothers Realty, led by Charles S. Cohen, is the landlord of this property.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93