Goldman Sachs, Deutsche Bank, JPMorgan, Wells Fargo Lend $1.25B For Office Property At 1633 Broadway In Midtown
Paramount Plaza, 1633 Broadway, New York, NY 10019, USA
$1,250,000,000
$48/SF
Building Size
25,600,000 SF
Asset Type
Office
Closing
Nov 24, 2019
AI
The property at 1633 Broadway in Midtown, New York was involved in a closed transaction. The office asset spans a total area of 2,560,000 square feet. The deal was facilitated by Eastdil Secured brokers Grant Frankel, Philip McKnight, and Ethan Pond. The lenders involved in the transaction were Goldman Sachs, Deutsche Bank, JPMorgan, and Wells Fargo. The landlord of the property is Paramount Group. The transaction amount for the deal was $1,250,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,250,000,000
- Address: 1633 Broadway
- Market: Midtown
- Square Footage: 2,560,000
- Lenders: Goldman Sachs, Deutsche Bank, JPMorgan, Wells Fargo
- Landlord: Paramount Group
- Brokers: Grant Frankel, Philip McKnight, Ethan Pond (Eastdil Secured)
The notable individuals involved in the deal include David Solomon, Christian Sewing, Charles Scharf, Jamie Dimon, Grant Frankel, Philip McKnight, and Ethan Pond.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93