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3 Bryant Pk

Wells Fargo Bank Of America And Bank Of Montreal Provide $1.125 Billion Refinance Loan For 3 Bryant Park
FINANCEDOffice

Wells Fargo Bank Of America And Bank Of Montreal Provide $1.125 Billion Refinance Loan For 3 Bryant Park

3 Bryant Pk

$1,125,000,000

$937/SF

Building Size

1,200,000 SF

Asset Type

Office

Closing

Feb 6, 2025

AI

The property asset involved in the transaction is located at 3 Bryant Park in the Midtown market, boasting an office asset type with a total square footage of 1,200,000. The refinancing loan amount for this property is $1,125,000,000.

Summary of transaction details:

The deal involves key representatives from various companies, including Wells Fargo, Bank of America, and Bank of Montreal as lenders. The landlords managing the property are Ivanhoe Cambridge and Hines, while the brokerage services were provided by Christopher Peck, Drew Isaacson, Lauren Kaufman, Jennifer Zelko, and Christopher Pratt from JLL.

Players

Christopher Peck

JLL

Broker

$16B

vol

71 deals

Broker
Bank of America
Bank of AmericaLender

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.01%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93