Deutsche Bank Provides $42M Loan For Office Building At 420 Fifth Ave
FINANCED
$37,500,000
New York
See Similar DealsOffice71,119 SF
Financed 07/28/2021
FINANCED
Deutsche Bank Provides $42M Loan For Office Building At 420 Fifth Ave
39 West 38th Street, Manhattan, New York, NY, USA
See Similar DealsOffice71,119 SF
Financed 07/28/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$527
Total Square Footage:71,119 SF
Transaction Type:Loan
Deutsche Bank has provided a loan of $42,000,000 for an office property located at 420 Fifth Ave. The landlord of the property is Witkoff Co. The transaction took place on June 13, 2019. The loan was secured by Deutsche Bank and will contribute to the financing of the property.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $42,000,000
- Address: 420 Fifth Ave
The deal involved several key individuals and companies. The brokers from JLL NY Capital Markets who represented the transaction are Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jackson Sastri, and Michael Ianno. They worked on behalf of the buyer, seller, landlord, or tenant to facilitate the deal. The transaction demonstrates the significant involvement of these individuals in the commercial real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,500,000.00
Monthly NOI$250,000.00
Monthly Debt Service$237,025.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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