Paramount Group Secures $860M Loan For Midtown Office Building At 1301 Avenue Of The Americas
1301 Avenue of the Americas, New York, NY 10019
$860,000,000
$580/SF
Building Size
1,482,208 SF
Asset Type
Office
Closing
Jul 29, 2020
About this deal
AI
The property involved in the transaction is an office located at 1301 Avenue of the Americas in Midtown. The transaction took place on 07/29/2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $860,000,000
- Lender: Morgan Stanley & Wells Fargo
- Landlord: Paramount Group - Albert Behler & David Zobel
- Brokers: Grant Frankel, Gary Phillips, Ethan Pond, Tanner McNeill
The lenders involved in the deal are Morgan Stanley and Wells Fargo. The landlord of the property is Paramount Group, represented by Albert Behler and David Zobel. The brokers who facilitated the transaction are Grant Frankel, Gary Phillips, Ethan Pond, and Tanner McNeill.
On the Map
$860,000,000
$580/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93