Signature Bank Refinances Office Building At 286 Fifth Avenue In Penn Station, Manhattan For $19M
286 Fifth Avenue
$19,000,000
$428/SF
Building Size
44,380 SF
Asset Type
Office
Closing
Sep 12, 2022
About this deal
AI
The property involved in this transaction is located at 286 Fifth Avenue in Penn Station, Manhattan. It is an office space with a total area of 44,380 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $19,000,000
- Loan Type: Refinance
- Lender: Signature Bank - Elizabeth Arato
- Landlord: Jack Aini
- Landlord's Rep: Solly Spigel - SJ Realty Management LLC
The lender in this transaction is Signature Bank, represented by Elizabeth Arato. The landlord of the property is Jack Aini. Solly Spigel from SJ Realty Management LLC is the landlord's representative.
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93