Principal Life Insurance Provides $72M Loan For 270 Madison Avenue, Midtown NYC. ABS Partners' Greg Schenker Is The Landlord
FINANCED
$72,000,000
New York
See Similar DealsOffice258,283 SF
Financed 08/02/2018
FINANCED
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
See Similar DealsOffice258,283 SF
Financed 08/02/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$278
Total Square Footage:258,283 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,000,000.00
Monthly NOI$480,000.00
Monthly Debt Service$455,088.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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