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Olmstead Properties Secures $125 Million Refinancing Loan From Citibank For 525 Seventh Avenue
FINANCED
$125,000,000
New York
See Similar DealsOffice411,074 SF
Financed 11/04/2025
FINANCED
Olmstead Properties Secures $125 Million Refinancing Loan From Citibank For 525 Seventh Avenue
525 7th Avenue
See Similar DealsOffice411,074 SF
Financed 11/04/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$304
Total Square Footage:411,074 SF
Transaction Type:Loan
The asset involved in this transaction is an office building located at 525 7th Avenue in the Garment District of Manhattan. The property has a total square footage of 411,074. The loan amount for this refinancing transaction is $125,000,000.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $125,000,000
- Address: 525 7th Avenue
- Market: Garment District, Manhattan
- Asset Size: 411,074 SF
- Lender: Citibank
- Landlord: Samuel W. Rosenblatt - Olmstead Properties
- Prior Debt: $176 million from UBS
In this deal, Samuel W. Rosenblatt, representing Olmstead Properties, secured refinancing for the office building through Citibank. The loan replaces existing debt held with UBS.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$125,000,000.00
Monthly NOI$833,333.33
Monthly Debt Service$790,085.03
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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