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Rudin Management Company Secures $385 Million Refinance Loan From J.P. Morgan Chase For 3 Times Square
FINANCED
$385,000,000
New York
See Similar DealsOffice950,000 SF
Financed 06/24/2025
FINANCED
Rudin Management Company Secures $385 Million Refinance Loan From J.P. Morgan Chase For 3 Times Square
3 Times Sq
See Similar DealsOffice950,000 SF
Financed 06/24/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$405
Total Square Footage:950,000 SF
Transaction Type:Loan
The asset involved in this transaction is an office building located at 3 Times Square in Midtown Manhattan. The property has a total square footage of 950,000 and consists of 30 stories. Recently renovated and WELL-certified, this tower is notable for attracting high-profile tenants.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $385,000,000
- Lender: J.P. Morgan Chase
- Landlord: Samantha Rudin Earls & Michael Rudin - Rudin Management Company
- Loan Type: Refinance
This refinancing deal was secured by Rudin Management, involving three loan components for the Midtown Manhattan tower. Tenants of note include Reuters and Kilpatrick Townsend, reflecting the building's desirability and solid market presence.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$385,000,000.00
Monthly NOI$2,566,666.67
Monthly Debt Service$2,433,461.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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