Signature Bank Provides $128M Refinance Loan For Office Building At 150 East 52nd Street In Midtown East, Manhattan
150 East 52nd St., New York City, New York 10022, United States
$128,000,000
$420/SF
Building Size
304,640 SF
Asset Type
Office
Closing
Aug 28, 2022
About this deal
AI
A loan transaction took place at 150 East 52nd Street in Midtown East, Manhattan. The property involved is an office space with a total area of 304,640 square feet. The loan was provided by Signature Bank, with Kenneth Stagnari representing the bank in the transaction. The loan amount was $128,000,000, and it was obtained for the purpose of refinancing.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $128,000,000
- Address: 150 East 52nd Street
- Market: Midtown East, Manhattan
- Lender: Signature Bank - Kenneth Stagnari
The landlord for the property is Princeton International Properties, with David Tawfik representing the company. This loan transaction represents a significant financial agreement between the borrower and the lender, aiming to refinance the property. It is indicative of the ongoing activity and investment in the Midtown East market.
On the Map
$128,000,000
$420/SF
Office
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Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93