Athene Annuity & Life Co Provides $9.9M Loan For 5 Times Square Office
5 Times Square
$9,900,000
Building Size
—
Asset Type
Office
Closing
Apr 23, 2024
About this deal
AI
The Midtown skyscraper located at 5 Times Square in Manhattan has secured a $9.9 million loan from Athene Annuity & Life Co. The property, primarily comprised of offices, is owned by Scott Rechler of RXR Realty.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,900,000
- Address: 5 Times Square
- Market: Midtown Manhattan
- Lender: Athene Annuity & Life Co
- Landlord: Scott Rechler - RXR Realty
The $9.9 million loan was provided by Athene Annuity and Life Co. to RXR Realty for the Midtown skyscraper. Scott Rechler, representing RXR Realty, facilitated the financing for the property situated at 5 Times Square in Manhattan.
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93