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:
- Property Type: Office
- Transaction Amount: $1,125,000,000
- Asset Address: 3 Bryant Park
- Market: Midtown
- Lender: Wells Fargo, Bank of America, and Bank of Montreal
- Landlord: Ivanhoe Cambridge and Hines
- Brokers: Christopher Peck, Drew Isaacson, Lauren Kaufman, Jennifer Zelko, and Christopher Pratt - JLL
- Loan Type: Refinance
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
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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93