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
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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93