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Empire Capital Holdings And Olmstead Properties Secures $81.9 Million Loan From BNY Mellon

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FINANCED
$81,900,000

New York

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Office356,000 SF
Financed 11/19/2025
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Property Image
FINANCED

Empire Capital Holdings And Olmstead Properties Secures $81.9 Million Loan From BNY Mellon

373 Park Avenue South

See Similar Deals
Office356,000 SF
Financed 11/19/2025
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$230
Total Square Footage:356,000 SF
Transaction Type:Loan

The property asset involved in this transaction consists of two office buildings located at 373 Park Avenue South and 381 Park Avenue South, situated within the Flatiron market. The total square footage of the properties is 356,000. The deal involved a loan amount of $81,900,000 specifically for acquisition purposes.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $81,900,000
  • Address: 373 Park Avenue South & 381 Park Avenue South
  • Market: Flatiron
  • Lender: BNY Mellon
  • Landlord: Empire Capital Holdings - Ebi Khalili, Josh Rahmani & Aaron Bergman; Olmstead Properties - Steve Marvin, Patrick Pavone, Samuel Rosenblatt; & Vertex
  • Brokers: Daniel Fromm & Jordan Roeschlaub - Newmark

The key individuals involved in the deal include representatives from Empire Capital Holdings, Olmstead Properties, and Vertex, alongside brokers Daniel Fromm and Jordan Roeschlaub from Newmark. Their collaboration facilitated the acquisition financing for this significant property transaction.

Players

Jordan (Jordy) Roeschlaub
322 deals$96.3B volume
BROKER

Daniel Fromm
Newmark
82 deals$5.3B volume
ORIGINATOR

Details

FINANCED
IMAGE: Daniel Fromm, Jordan Roeschlaub, Josh Rahmani, Aaron Bergman, Ebi Khalili, Patrick Pavone, Steve Marvin & Samuel Rosenblatt DATE: 11/19/2025 ADDRESS: 373 Park Avenue South & 381 Park Avenue South MARKET: Flatiron ASSET TYPE: Office ~ SF: 356,000 LENDER: BNY Mellon LANDLORD: Empire Capital Holdings - Ebi Khalili, Josh Rahmani & Aaron Bergman; Olmstead Properties - Steve Marvin, Patrick Pavone, Samuel Rosenblatt; & Vertex BROKERS: Daniel Fromm (@Ddwb) & Jordan Roeschlaub (@JordyRoeschlaub) - Newmark (@Newmark) LOAN AMOUNT: $81,900,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$81,900,000.00

Monthly NOI$546,000.00
Monthly Debt Service$517,663.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00