Daily limit: 0/10
Glorious Sun Group Secures $8M Refi Loan For Office Building At 505 Park Avenue, Lenox Hill, Manhattan
FINANCED
$8,000,000
New York
See Similar DealsOffice220,510 SF
Financed 06/23/2023
FINANCED
Glorious Sun Group Secures $8M Refi Loan For Office Building At 505 Park Avenue, Lenox Hill, Manhattan
505 Park Avenue New York, New York 10022, USA
See Similar DealsOffice220,510 SF
Financed 06/23/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$36
Total Square Footage:220,510 SF
Transaction Type:Loan
Glorious Sun Group has secured an $8 million refinance loan from Bank of East Asia for the office building located at 505 Park Avenue in Lenox Hill, Manhattan. The property is an office space measuring approximately 220,510 square feet. The transaction took place on June 23, 2023.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,000,000
- Address: 505 Park Avenue
- Market: Lenox Hill, Manhattan
- Lender: Bank of East Asia - George Benakis & Chong Tan
- Landlord: Glorious Sun Group - Yin Chi Jennifer Yeung
The loan was obtained from Bank of East Asia, with George Benakis and Chong Tan representing the lender. Glorious Sun Group, represented by Yin Chi Jennifer Yeung, acted as the landlord in this transaction.
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,000,000.00
Monthly NOI$53,333.33
Monthly Debt Service$50,565.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions