Principal Life Insurance Provides $72M Loan For 270 Madison Avenue, Midtown NYC. ABS Partners' Greg Schenker Is The Landlord
270 Madison Ave, New York, NY 10016, USA
$72,000,000
$278/SF
Building Size
258,283 SF
Asset Type
Office
Closing
Aug 1, 2018
About this deal
AI
The office property located at 270 Madison Avenue in Midtown, New York has been involved in a closed transaction. The property is owned by ABS Partners and represented by Greg Schenker. The lender in this deal is Principal Life Insurance. The loan amount for this transaction was $72,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $72,000,000
- Lender: Principal Life Insurance
- Landlord: ABS Partners – Greg Schenker
- Market: Midtown
- City: New York
- Address: 270 Madison Avenue
In this deal, the property was financed by Principal Life Insurance. ABS Partners, with Greg Schenker as their representative, acted as the landlord in this transaction.
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93