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Paramount Plaza, 1633 Broad...

Goldman Sachs, Deutsche Bank, JPMorgan, Wells Fargo Lend $1.25B For Office Property At 1633 Broadway In Midtown
FINANCEDOffice

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

Ethan Pond

Eastdil Secured

Broker

$13.3B

vol

28 deals

Broker
Paramount Group
Paramount GroupLender
Paramount Group
Paramount GroupLandlord

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

0.01%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93