Axel Stawski's 505 Fifth Avenue Office Building In Midtown Manhattan Acquired For $200M By Landesbank Hessen-Thüringen
505 5th Ave, New York, NY 10017, USA
$200,000,000
$796/SF
Building Size
251,000 SF
Asset Type
Office
Closing
Aug 19, 2018
About this deal
AI
Stawski Partners has closed a transaction for an office property located at 505 Fifth Avenue in Midtown, New York. The property, owned by Axel Stawski, spans 251,000 square feet and was secured with a loan amount of $200,000,000 from Landesbank Hessen-Thüringen (helaba''>Helaba).
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $200,000,000
- Square Footage: 251,000
- Address: 505 Fifth Avenue, New York
- Market: Midtown
- Lender: Landesbank Hessen-Thüringen (Helaba)
- Landlord: Stawski Partners
This deal was facilitated by Stawski Partners and Landesbank Hessen-Thüringen (Helaba) served as the lender. The successful closing of this transaction highlights Stawski Partners' expertise in the New York office market.
On the Map
$200,000,000
$796/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93