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469 7th Avenue

Eric Meyer's Meyer Equities Refinances Office Building In Penn District With $98M Loan From Citibank & UBS
FINANCEDOffice

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

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

Evan Pariser

JLL

Broker

$2.2B

vol

14 deals

Broker
Citibank
CitibankLender
UBS
UBSLender
Eric Meyer

Eric Meyer

Meyer Equities

Landlord

$131M

vol

4 deals

Landlord

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