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437 Madison Avenue, New Yor...

Wells Fargo Provides $185M Loan For Office Building At 437 Madison Avenue In Midtown
FINANCEDOffice

Wells Fargo Provides $185M Loan For Office Building At 437 Madison Avenue In Midtown

437 Madison Avenue, New York, NY 10022

$185,000,000

$4,822/SF

Building Size

38,360 SF

Asset Type

Office

Closing

Jun 17, 2020

AI

An office property located at 437 Madison Avenue in Midtown recently closed in a transaction. The property, owned by Jonathan Kaufman Iger of Sage Realty, was involved in a loan deal with Wells Fargo. The loan amount for the transaction was $185,000,000. The property is situated in a prime location in Midtown, making it an attractive asset in the market.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $185,000,000
  • Address: 437 Madison Avenue
  • Market: Midtown

Grant Frankel, Gary Phillips, and Ethan Pond of astdilSecured served as the brokers in this deal. They played a crucial role in facilitating the loan transaction between Jonathan Kaufman Iger and Wells Fargo. Their expertise and negotiation skills were instrumental in bringing the deal to fruition.

Players

Ethan Pond

Eastdil Secured

Broker

$13.3B

vol

28 deals

Broker
Sage realty
Sage realtyBrokerage
Wells Fargo
Wells FargoLender
Jonathan Iger

Jonathan Iger

Sage realty

Landlord

$747.5M

vol

7 deals

Landlord

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

0.09%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93