Rudin Management Secures $175 Million Construction Loan From JP Morgan For Manhattan Office At 355 Lexington Avenue
355 Lexington Avenue
$175,000,000
Building Size
—
Asset Type
Office
Closing
Sep 14, 2026
About this deal
AI
The property involved in this transaction is an office asset located at 355 Lexington Avenue in the Manhattan market. The loan amount secured for this property is $175,000,000, classified as a construction loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $175,000,000
- Lender: JP Morgan
- Borrower: Rudin Management
- Advisors: Gary Phillips, Grant Frankel, Ethan Pond, Auston Ingram & Wyatt Devine - Eastdil Secured Savills
This transaction involved key participants including JP Morgan as the lender and Rudin Management as the borrower. The advisors representing the deal were Gary Phillips, Grant Frankel, Ethan Pond, Auston Ingram, and Wyatt Devine from Eastdil Secured Savills.
On the Map
$175,000,000
Office
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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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93