Wells Fargo Provides $75M Loan For Office Building At 450-460 Park Avenue South In Manhattan
FINANCED
$75,000,000
+ 1
New York
See Similar DealsOffice183,019 SF
Financed 05/30/2019
FINANCED
Wells Fargo Provides $75M Loan For Office Building At 450-460 Park Avenue South In Manhattan
450 Park Avenue South, New York, NY, USA
See Similar DealsOffice183,019 SF
Financed 05/30/2019
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$409
Total Square Footage:183,019 SF
Transaction Type:Loan
A loan in the amount of $75,000,000 was secured for the office property located at 450–460 Park Avenue South in Manhattan. The property spans 183,019 square feet and is owned by the Moinian Group. The loan was provided by Wells Fargo.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $75,000,000
- Address: 450–460 Park Avenue South
- Market: Manhattan
The deal was facilitated by JLL's Aaron Appel, Kellogg Gaines, Jackson Sastri, and Matt Fagella, who represented the landlord, Moinian Group.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$75,000,000.00
Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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