FINANCEDOffice
JP Morgan Provides $26M Refinance Loan For Office Property At 220 5th Avenue In Manhattan - Kathy Anderson & Caillin Boles Broker The Deal - Dino Tomassetti Of Asset Realty & Construction Group Is The Landlord
220 5th Avenue
$26,000,000
$163/SF
Building Size
158,644 SF
Asset Type
Office
Closing
Aug 30, 2023
AI
Summary of transaction details
- Property Type: Office
- Transaction Amount: $26,000,000
- Date: 08/30/2023
- Address: 220 5th Avenue
- Market: Manhattan
- Asset Type: Office
- Square Footage: 158,644
- Lender: JP Morgan
- Landlord: Dino Tomassetti - Asset Realty & Construction Group
- Brokers: Kathy Anderson & Caillin Boles - Progress Capital
- Loan Type: Refinance
Players
Progress CapitalBrokerage
J.P. Morgan ChaseLender
Market 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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93