Kaufman Organization Secures $42 Million Refinance Loan From Apple Bank For Midtown Manhattan Office
FINANCED
$42,000,000
New York
See Similar DealsOffice510,304 SF
Financed
FINANCED
Kaufman Organization Secures $42 Million Refinance Loan From Apple Bank For Midtown Manhattan Office
450 Seventh Avenue
See Similar DealsOffice510,304 SF
Financed
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$82
Total Square Footage:510,304 SF
Transaction Type:Loan
The asset involved in this transaction is an office property located at 450 Seventh Avenue, Midtown Manhattan. The property spans a total area of 510,304 square feet and is owned by Kaufman Organization. The transaction revolves around a loan amounting to $42,000,000 for refinancing purposes, facilitated by Apple Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $42,000,000
- Address: 450 Seventh Avenue
- Market: Midtown Manhattan
- Asset Size: 510,304 SF
- Lender: Apple Bank
- Landlord: Kaufman Organization
- Broker: Aaron Niedermayer - JLL
Key individuals involved in this transaction include Steve Kaufman and Aaron Niedermayer. Aaron Niedermayer represents JLL as the broker in this deal, aiding in the refinancing process for the Kaufman Organization.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,000,000.00
Monthly NOI$280,000.00
Monthly Debt Service$265,468.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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