facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Loan

/

150 West 56th Street

Tishman Speyer Refinances Office Condo At 150 West 56th Street In Midtown West, Manhattan With $92.7M Loan From MassMutual
FINANCEDOffice

Tishman Speyer Refinances Office Condo At 150 West 56th Street In Midtown West, Manhattan With $92.7M Loan From MassMutual

150 West 56th Street

$92,700,000

$299/SF

Building Size

309,391 SF

Asset Type

Office

Closing

Oct 19, 2023

AI

Tishman Speyer, represented by the entity Cityspire, Inc., secured a $92.7 million refinancing loan from MassMutual, specifically Massachusetts Mutual Life Insurance Company, for the office condo located at 150 West 56th Street in Midtown West, Manhattan. The office condo spans approximately 309,391 square feet and is situated in the Midtown West market of Manhattan.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $92,700,000
  • Address: 150 West 56th Street
  • Market: Midtown West, Manhattan
  • Lender: Roger W. Crandall - MassMutual
  • Landlord: Paul A. Galiano - Tishman Speyer
  • Loan Type: Refinance

Tishman Speyer, represented by Cityspire, Inc., successfully secured a $92.7 million refinancing loan from MassMutual for the office condo located at 150 West 56th Street. The lender in this transaction is Roger W. Crandall, who represents MassMutual. The landlord of the property is Paul A. Galiano, who represents Tishman Speyer.

Players

 MassMutual
MassMutualLender
Tishman Speyer
Tishman SpeyerLandlord

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

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93