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JPMorgan Chase Provides $47M Loan For Office Building At 230 Fifth Ave. In Manhattan

Property Image
FINANCED
$47,000,000
Paul Talbot
Jeffrey Gural

New York

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Office465,000 SF
Financed 09/06/2022
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FINANCED

JPMorgan Chase Provides $47M Loan For Office Building At 230 Fifth Ave. In Manhattan

230 5th Avenue, New York City, New York 10001, United States

See Similar Deals
Office465,000 SF
Financed 09/06/2022
Paul Talbot
Jeffrey Gural
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$101
Total Square Footage:465,000 SF
Transaction Type:Loan

Jeffrey Gural, the landlord, has closed a loan transaction for an office property located at 230 Fifth Ave in the Flatiron District of Manhattan. The property spans 465,000 square feet and is owned by GFP Real Estate. The loan amount for this transaction was $47,000,000, provided by JPMorgan Chase. The loan has a fixed-rate and a term of 10 years.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $47,000,000
  • Address: 230 Fifth Ave
  • Market: Flatiron District, Manhattan
  • Lender: JPMorgan Chase
  • Landlord: GFP Real Estate - Jeffrey Gural

Paul Talbot, a broker representing Newmark, facilitated the transaction between Jeffrey Gural and JPMorgan Chase. The office property, situated in the bustling Flatiron District, offers a prime location for businesses seeking a presence in Manhattan. With its expansive 465,000 square feet, the property can accommodate a variety of office space needs.

Players

Paul Talbot
Newmark
Paul Talbot
17 deals$597.6M volume
BROKER
J.P. Morgan Chase
J.P. Morgan Chase
LENDER
Jeffrey Gural
GFP Real Estate
Jeffrey Gural
20 deals$915.3M volume
LANDLORD

Details

FINANCED
IMAGE: Jeffrey Gural & Paul Talbot DATE: 09/06/2022 ADDRESS: 230 Fifth Ave. MARKET: Flatiron District, Manhattan ASSET TYPE: Office ~ SF: 465,000 LENDER: JPMorgan Chase (@JPMorgan) LANDLORD: GFP Real Estate (@GFPRealEstate) - Jeffrey Gural BROKER: Paul Talbot - Newmark (@Newmark) LOAN AMOUNT: $47,000,000 LOAN TERMS: 10-year, fixed-rate

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,000,000.00

Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00