Feil Organization Secures $51.5 Million Refinance Loan From JPMorgan For 370 Seventh Avenue Office
370 Seventh Avenue
$51,500,000
Building Size
—
Asset Type
Office
Closing
May 23, 2025
About this deal
AI
The property asset involved in this transaction is an office located at 370 Seventh Avenue in the Penn Plaza market of Manhattan. The asset was refinanced with a loan amount of $51.5 million from JPMorgan Chase, which replaced a previous $50 million loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $51,500,000
- Lender: JPMorgan Chase
- Landlord: Jeffrey Feil - Feil Organization
- Loan Type: Refinance
The key individuals involved in the deal include Jeffrey Feil, representing the Feil Organization, which oversees the office building located at the specified address. The refinancing arrangement indicates a strategy to improve financial terms related to the existing loan structure.
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$51,500,000
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93