First Republic Bank Provides $58M Debt Financing For Office Building At 5 Columbus Cir. In Manhattan, NY
5 Columbus Circle
$58,000,000
$237/SF
Building Size
244,000 SF
Asset Type
Office
Closing
Aug 23, 2022
About this deal
AI
Located at 5 Columbus Cir. in Manhattan, this 244,000 square foot office asset recently underwent a closed transaction. The property is situated in a prime location within the bustling Manhattan market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $58,000,000
- Address: 5 Columbus Cir.
- Market: Manhattan
- Lender: First Republic Bank
- Brokers: Grant Frankel, Ethan Pond & Auston Ingram - Eastdil Secured
Grant Frankel, Ethan Pond, and Auston Ingram from Eastdil Secured served as the brokers in this closed transaction. They represented the parties involved in the deal.
The loan amount for this transaction was $58,000,000, and it was obtained through debt financing. First Republic Bank provided the loan.
On the Map
$58,000,000
$237/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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93