Axel Stawski's 505 Fifth Avenue Office Building In Midtown Manhattan Acquired For $200M By Landesbank Hessen-Thüringen
FINANCED
$200,000,000
New York
See Similar DealsOffice251,000 SF
Financed 08/20/2018
FINANCED
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
See Similar DealsOffice251,000 SF
Financed 08/20/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$796
Total Square Footage:251,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$200,000,000.00
Monthly NOI$1,333,333.33
Monthly Debt Service$1,264,136.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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