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Athene Annuity & Life Co Provides $9.9M Loan For 5 Times Square Office
FINANCED
$9,900,000
New York
See Similar DealsOffice
Financed 04/23/2024
FINANCED
Athene Annuity & Life Co Provides $9.9M Loan For 5 Times Square Office
5 Times Square
See Similar DealsOffice
Financed 04/23/2024
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,900,000.00
Monthly NOI$66,000.00
Monthly Debt Service$62,574.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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