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22 West 48th Street, New Yo...

Signature Bank Provides $62M Refinancing Loan For Office Building In Midtown West
FINANCEDOffice

Signature Bank Provides $62M Refinancing Loan For Office Building In Midtown West

22 West 48th Street, New York City, New York 10036, United States

$62,000,000

$769/SF

Building Size

80,604 SF

Asset Type

Office

Closing

Jun 30, 2022

AI

No summary available.

Players

Eli Chetrit

Sioni Group

Broker

$1.3B

vol

8 deals

Broker
Signature Bank
Signature BankLender
Eli Chetrit

Eli Chetrit

Sioni Group

Landlord

$1.3B

vol

8 deals

Landlord

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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93