facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Loan

/

425 Park Avenue

Updated Dec 4, 2024

Sumitomo Mitsui Trust Bank Provides $911M Refinancing For 425 Park Avenue Office
FINANCEDOffice

Sumitomo Mitsui Trust Bank Provides $911M Refinancing For 425 Park Avenue Office

425 Park Avenue

$911,000,000

Building Size

—

Asset Type

Office

Closing

Apr 11, 2024

About this deal

AI

A new skyscraper on Manhattan's Park Avenue, anchored by Ken Griffin's Citadel, has secured a $911 million refinancing deal, led by Sumitomo Mitsui Trust Bank. The property, located at 425 Park Avenue in Manhattan, is owned by David Levinson of L&L Holding Company.

Summary of transaction details:

Two key figures central to the deal are Ken Griffin, the owner of Citadel, and David Levinson, representing L&L Holding Company as the landlord. The financing was provided by Sumitomo Mitsui Trust Bank, further solidifying the partnership between the parties involved in this significant transaction.

On the Map

Open live map

$911,000,000

Office

View full map

Players

Sumitomo Mitsui Trust Bank
Sumitomo Mitsui Trust BankLender
Bilt advertisement

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Deal FAQ

Browse New York office loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets