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Deutsche Bank Provides $750 Million Loan For Office Property At 277 Park Avenue, Manhattan
FINANCED
$750,000,000
New York
See Similar DealsOffice1,700,000 SF
Financed 07/25/2024
FINANCED
Deutsche Bank Provides $750 Million Loan For Office Property At 277 Park Avenue, Manhattan
277 Park Avenue
See Similar DealsOffice1,700,000 SF
Financed 07/25/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$441
Total Square Footage:1,700,000 SF
Transaction Type:Loan
The property asset involved in this transaction is an office building located at 277 Park Avenue, Manhattan. It encompasses a total square footage of 1,700,000. The transaction is part of a financial arrangement, with a significant loan provided to facilitate the deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $750,000,000
- Market: Manhattan
- Lender: Christian Sewing
- Lending Institution: Deutsche Bank
- Loan Terms: five-year term
- Interest Rate: 7.2%
Christian Sewing is acting as the lender in this transaction, representing Deutsche Bank in providing the loan. The loan is intended to replace an existing mortgage on the property. The terms of the agreement reflect a fixed interest rate over the stipulated loan period.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$750,000,000.00
Monthly NOI$5,000,000.00
Monthly Debt Service$4,740,510.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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