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
About this deal
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
The office loan at 220 5th Avenue in New York financed for $26M in 2023. The building is 158,644 square feet, implying about 163 per square foot on the published price. Caillin Boles, Kathy Anderson, Progress Capital appear on the loan alongside Progress Capital. This page is the New York file for the 220 5th Avenue office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that local office set by closing date to see what else financed near 220 5th Avenue around 2023. Published consideration for 220 5th Avenue is $26M, dated 2023. Cite this 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 loan when underwriting similar office product around New York.
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Market Office Market Snapshot
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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