Sapir Organization Secures $326M Loan For Madison Avenue Office Buildings
260 Madison Ave New York, NY 10016, USA
$326,000,000
Building Size
—
Asset Type
Office
Closing
Dec 13, 2022
AI
The asset involved in this transaction is an office property located at 260 & 261 Madison Avenue in New York. The loan amount secured for this property is $326,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $326,000,000
- Lender: JPMorgan Chase & Co and Mack Real Estate Group
- Landlord: Sapir Organization
The key individuals and companies in this transaction include Alex Sapir, representing the landlord, and the lending parties, JPMorgan Chase & Co along with Mack Real Estate Group, who provided the financing for this office property deal.
Players
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93