Eric Meyer's Meyer Equities Refinances Office Building In Penn District With $98M Loan From Citibank & UBS
469 7th Avenue
$98,000,000
$5,764/SF
Building Size
17,000 SF
Asset Type
Office
Closing
Aug 30, 2022
AI
The property involved in this transaction is an office located at 469 7th Ave. in the Penn district. The office has a total square footage of 270,000 and is owned by Meyer Equities, represented by Eric Meyer as the landlord. The market in which this property is located is the Penn district.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $98,000,000
- Lender: Citibank & Ubs
- Brokers: Scott Aiese & Evan Pariser - JLL
- Loan Type: Refinance
The loan for this transaction is provided by Citibank and Ubs, and the loan amount is $98,000,000. Scott Aiese and Evan Pariser from JLL served as brokers in this deal. It is important to note that no additional information was provided regarding the loan type or any other details of the transaction.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93