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420 Madison Ave, New York, ...

Leviathan Capital Arranges $14.6M Loan For Office Building At 420 Madison Avenue, Midtown
FINANCEDOffice

Leviathan Capital Arranges $14.6M Loan For Office Building At 420 Madison Avenue, Midtown

420 Madison Ave, New York, NY 10017, USA

$14,600,000

$29/SF

Building Size

493,310 SF

Asset Type

Office

Closing

Feb 18, 2020

AI

The office property located at 420 Madison Avenue in Midtown has been involved in a closed transaction. The property spans across 49,331 square feet and has been financed by TD Bank with a loan amount of $14,600,000. The loan terms include a fixed interest rate of 3.125% for 5 years, with a 30-year amortization. Chun Ka Luk is the landlord of the property.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $14,600,000
  • SF: 49,331
  • Lender: TD Bank
  • Landlord: Chun Ka Luk
  • Broker: Joe Hach & Ricky Aryeh @LeviathanCapital

The deal's key individuals involved in this transaction are Joe Hach and Ricky Aryeh from Leviathan Capital, who represent the buyer or seller in this deal. They have played a crucial role in facilitating the transaction for the office property located at 420 Madison Avenue in Midtown.

Players

Joseph Hach

Refined

Broker

$149.4M

vol

24 deals

Broker
TD Bank
TD BankLender

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93