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
About this deal
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.
On the Map
$92,700,000
$299/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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93