facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Loan

/

5 Times Square, New York Ci...

RXR Refinances Times Square Office Building With $1.3B Loan From Morgan Stanley And Apollo Global Management Inc
FINANCEDOffice

RXR Refinances Times Square Office Building With $1.3B Loan From Morgan Stanley And Apollo Global Management Inc

5 Times Square, New York City, New York 10036, United States

$1,300,000,000

$1,150/SF

Building Size

1,130,000 SF

Asset Type

Office

Closing

Sep 5, 2022

AI

The office property located at 5 Times Square in Times Square has undergone a refinancing transaction. The loan for this transaction was provided by Morgan Stanley, Apollo Global Management Inc., and American International Group Inc. The total loan amount for the refinancing was $1,300,000,000. The landlord in this deal is RXR, represented by Scott Rechler.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $1,300,000,000

The key individuals and companies involved in this transaction are Morgan Stanley, Apollo Global Management Inc., American International Group Inc., RXR, and Scott Rechler. The loan was provided by Morgan Stanley, Apollo Global Management Inc., and American International Group Inc. as part of the refinancing deal. RXR, represented by Scott Rechler, acted as the landlord in this transaction.

Players

Ethan Pond

Eastdil Secured

Broker

$13.3B

vol

28 deals

Broker
Morgan Stanley
Morgan Stanley Lender
Scott Rechler

Scott Rechler

RXR Realty

Landlord

$9.1B

vol

24 deals

Landlord

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.01%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93