Wells Fargo Provides $185M Loan For Office Building At 437 Madison Avenue In Midtown
FINANCED
$185,000,000
+ 1
New York
See Similar DealsOffice38,360 SF
Financed 06/17/2020
FINANCED
Wells Fargo Provides $185M Loan For Office Building At 437 Madison Avenue In Midtown
437 Madison Avenue, New York, NY 10022
See Similar DealsOffice38,360 SF
Financed 06/17/2020
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$4,822
Total Square Footage:38,360 SF
Transaction Type:Loan
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
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$185,000,000.00
Monthly NOI$1,233,333.33
Monthly Debt Service$1,169,325.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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