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295 5th Avenue

Updated Sep 5, 2024

FINANCEDOffice

Deutsche Pfandbriefbank Provides $150M Loan For Office Building At 295 5th Avenue In Midtown South

295 5th Avenue

$150,000,000

Building Size

Asset Type

Office

Closing

Nov 17, 2022

About this deal

AI

The office property located at 295 5th Avenue in Midtown South has recently undergone a loan refinance transaction. The property is owned by Tribeca Investment Group, Meadow Partners, and PGIM Real Estate, with Elliot Interman, Jeff Kaplan, and Eric Adler representing the respective companies. The landlord's representative is Elliot Interman from Tribeca Investment Group, Jeff Kaplan from Meadow Partners, and Eric Adler from PGIM Real Estate. The loan amount for this transaction is $150,000,000, provided by Deutsche Pfandbriefbank, with Andreas Arndt as the lender. Newmark's brokers, Jordan Roeschlaub, Dustin Stolly, Chris Kramer, Nick Scribani, and Holden Witkoff, facilitated the deal.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $150,000,000
  • Lender: Deutsche Pfandbriefbank - Andreas Arndt
  • Landlord: Tribeca Investment Group - Elliot Interman, Meadow Partners - Jeff Kaplan & PGIM Real Estate - Eric Adler
  • Brokers: Jordan Roeschlaub, Dustin Stolly, Chris Kramer, Nick Scribani & Holden Witkoff - Newmark

The loan refinance transaction at 295 5th Avenue in Midtown South involved various key individuals and companies. Andreas Arndt acted as the lender for Deutsche Pfandbriefbank. Jordan Roeschlaub, Dustin Stolly, Chris Kramer, Nick Scribani, and Holden Witkoff, representing Newmark, played a crucial role in facilitating the deal. They worked alongside Elliot Interman from Tribeca Investment Group, Jeff Kaplan from Meadow Partners, and Eric Adler from PGIM Real Estate, who represented the property's ownership.

Players

Dustin Stolly

Walker & Dunlop

Broker

$51.1B

vol

273 deals

Broker

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

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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