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Hilson Management Corporation Secures $32.7M Loan For Office Property At 385 Fifth Avenue
FINANCED
$32,700,000
New York
See Similar DealsOffice
Financed 12/14/2023
FINANCED
Hilson Management Corporation Secures $32.7M Loan For Office Property At 385 Fifth Avenue
385 5th Avenue
See Similar DealsOffice
Financed 12/14/2023
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
Hilson Management Corporation, represented by Jeremy Schwalbe, has secured a three-year loan extension for its office property located at 385 Fifth Avenue in Midtown South, Manhattan. The loan amounts to $32.7 million and is backed by commercial mortgage-backed securities (CMBS).
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $32,700,000
- Address: 385 Fifth Avenue
- Market: Midtown South, Manhattan
The loan extension was successfully negotiated by Iron Hound Management Company's representatives, Christopher Herron and Kevin Thompson. The deal ensures that Hilson Management Corporation can continue to leverage the value of their office property in Midtown South.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,700,000.00
Monthly NOI$218,000.00
Monthly Debt Service$206,686.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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