Credit Suisse Provides $224M Loan For 522 Fifth Avenue Office Acquisition
522-528 5th Ave, New York, NY 10036, USA
$224,000,000
$59/SF
Building Size
3,798,880 SF
Asset Type
Office
Closing
Aug 26, 2020
About this deal
AI
A $224,000,000 loan has been provided by Credit Suisse for the office property located at 522 Fifth Avenue in the Grand Central market. The property spans across 379,888 square feet and is owned by @RFRRealty. The deal was facilitated by brokers Jordan Roeschlaub, Dustin Stolly, and Nick Scribani.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $224,000,000
- Address: 522 Fifth Avenue
- Market: Grand Central
- Square Footage: 379,888
- Lender: Credit Suisse
- Landlord: @RFRRealty
The brokers involved in the deal, Jordan Roeschlaub, Dustin Stolly, and Nick Scribani, played a crucial role in facilitating the transaction.
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93