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
About this deal
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.
On the Map
$185,000,000
$4,822/SF
Office
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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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93