Apple Bank For Savings Provides $35M Loan For Office Building At 330 Fifth Avenue In Penn Station
330 5th Avenue, New York City, New York 10118, United States
$35,000,000
$195/SF
Building Size
179,472 SF
Asset Type
Office
Closing
Jun 12, 2022
AI
330 Fifth Avenue, located in the Penn Station market, has recently undergone a closed transaction. The property is an office building with a total area of 179,472 square feet. The transaction date was on June 13, 2022. The property was financed through a loan from Apple Bank For Savings, with a loan amount of $35,000,000. The landlord of the property is Shulsky Properties.
Summary of transation details
- Property Type: Office
- Transaction Amount: $35,000,000
- Address: 330 Fifth Avenue
- Market: Penn Station
- Loan Lender: Apple Bank For Savings
- Landlord: Shulsky Properties
The financing for this transaction was provided by Apple Bank For Savings. Shulsky Properties served as the landlord in this deal.
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93