Raghsa Real Estate Secures $130 Million Loan From J.P. Morgan Chase For Office Acquisition In Chelsea
512 West 22nd Street
$130,000,000
$755/SF
Building Size
172,000 SF
Asset Type
Office
Closing
Aug 13, 2025
About this deal
AI
The property asset involved in this transaction is an office building located at 512 West 22nd Street in Chelsea, Manhattan. The total square footage of the asset is 172,000 square feet, and the lender for this acquisition loan is J.P. Morgan Chase. The loan amount secured for this transaction is $130,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $130,000,000
- Address: 512 West 22nd Street
- Market: Chelsea, Manhattan
- Asset Square Footage: 172,000
- Lender: J.P. Morgan Chase
- Landlord: Raghsa Real Estate
- Landlord's Representative: Grant Frankel, Rob Turner & Drew Ahlers - Eastdil Secured
The transaction features notable individuals such as Adam Smith, representing Raghsa Real Estate. The broker representatives from Eastdil Secured include Grant Frankel, Rob Turner, and Drew Ahlers, who facilitated the acquisition loan process.
On the Map
$130,000,000
$755/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93