Paramount Group Secures $860M Loan For Midtown Office Building At 1301 Avenue Of The Americas
FINANCED
$860,000,000
+ 2
New York
See Similar DealsOffice1,482,208 SF
Financed 07/29/2020
FINANCED
Paramount Group Secures $860M Loan For Midtown Office Building At 1301 Avenue Of The Americas
1301 Avenue of the Americas, New York, NY 10019
See Similar DealsOffice1,482,208 SF
Financed 07/29/2020
+ 2
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$580
Total Square Footage:1,482,208 SF
Transaction Type:Loan
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.
Players
LENDER
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$860,000,000.00
Monthly NOI$5,733,333.33
Monthly Debt Service$5,435,785.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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