Daishin Securities Refinances Office Building At 400 Madison Avenue In Midtown Manhattan With $50M Loan From Daishin F & I Co., Ltd
400 Madison Avenue
$50,000,000
$342/SF
Building Size
146,191 SF
Asset Type
Office
Closing
Nov 2, 2023
AI
The office building at 400 Madison Avenue in Midtown East, Manhattan has secured a $50 million refinancing loan. The property spans across 146,191 square feet and is owned by Myoung Kuk Kim, represented by Daishin Securities. The loan was obtained from Daishin F & I Co., Ltd, a corporate affiliate of Daishin Securities.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $50,000,000
- Address: 400 Madison Avenue
- Market: Midtown East, Manhattan
- Landlord: Myoung Kuk Kim - Daishin Securities
Daishin Securities, represented by DS40Owner LLC, secured the refinancing loan from its affiliate, Daishin F & I Co., Ltd. The transaction is aimed at supporting the ongoing operations and future development of the office building at 400 Madison Avenue.
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93