Sumitomo Mitsui Banking Corp Provides $84M Loan For Office Property At 305 E 46th Street, East Midtown. Landlord Is Shimizu Corporation
305 E 46th St, New York, NY 10017, USA, 305 E 46th St, New York, NY 10017, USA, 305 E 46th St, New York, NY 10017, USA & 305 E 46th St, New York, NY 10017, USA
$61,000,000
$10/SF
Building Size
5,797,000 SF
Asset Type
Office
Closing
May 23, 2018
AI
Located at 305 E 46th Street in East Midtown, this office property was recently involved in a closed transaction. The property spans a total of 187,000 square feet and is owned by Shimizu Corporation. The loan for this transaction was provided by Sumitomo Mitsui Banking Corp, totaling $84,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $84,000,000
- Address: 305 E 46th Street
- Market: East Midtown
- Square Footage: 187,000
- Lender: Sumitomo Mitsui Banking Corp
- Landlord: Shimizu Corporation
Takeo Yoshigi & Kazuyuki Inoue were the brokers involved in this deal, representing Shimizu Corporation. They played a crucial role in facilitating the transaction and ensuring a successful outcome.
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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93