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Milstein Properties Secures $645M Refinance Loan From JPMorgan Chase For 335 Madison Avenue Office

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FINANCED
$645,000,000

New York

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Office874,744 SF
Financed 02/24/2025
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Property Image
FINANCED

Milstein Properties Secures $645M Refinance Loan From JPMorgan Chase For 335 Madison Avenue Office

335 Madison Avenue

See Similar Deals
Office874,744 SF
Financed 02/24/2025
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$737
Total Square Footage:874,744 SF
Transaction Type:Loan

The asset involved in this transaction is an office building located at 335 Madison Avenue in the Grand Central market of Manhattan. The property comprises 874,744 square feet and has been refinanced for a total loan amount of $645,000,000 from J.P. Morgan Chase, replacing prior debt from Citibank.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $645,000,000
  • Address: 335 Madison Avenue
  • Market: Grand Central, Manhattan
  • Asset Size: 874,744 sq. ft.
  • Lender: J.P. Morgan Chase
  • Landlord: Kevin Buckley - Milstein Properties
  • Loan Type: Refinance

The key individuals involved in this deal are Kevin Buckley and Michael Milstein, representing Milstein Properties. This refinancing marks a significant financial activity for the landlord, enabling them to update the financial structure of their office asset in a prominent location.

Players

LENDER


Details

FINANCED
IMAGE: Kevin Buckley & Michael Milstein DATE: 02/24/2025 ADDRESS: 335 Madison Avenue MARKET: Grand Central, Manhattan ASSET TYPE: Office ~ SF: 874,744 LENDER: J.P. Morgan Chase (@JPMorgan) LANDLORD: Kevin Buckley - Milstein Properties LOAN AMOUNT: $645,000,000 LOAN TYPE: Refinance NOTE: Milstein Properties refinanced its 874,744 sq. ft. office building at 335 Madison Avenue in Manhattan with a $645M loan from JPMorgan Chase, replacing prior debt from Citibank.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$645,000,000.00

Monthly NOI$4,300,000.00
Monthly Debt Service$4,076,838.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00