RXR Realty Secures $228M Loan From Nuveen For 530 Fifth Avenue Office In Midtown
530 5th Ave, New York, NY 10036, USA
$228,000,000
$430/SF
Building Size
530,000 SF
Asset Type
Office
Closing
Oct 23, 2019
About this deal
AI
The office building located at 530 Fifth Avenue in Midtown has been involved in a closed transaction. The property, owned by RXR Realty and financed by Nuveen, was sold for a loan amount of $228,000,000. The building has a total square footage of 530,000 and is situated in a prime location in the Midtown market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $228,000,000
- Address: 530 Fifth Avenue
- Market: Midtown
- Lender: Nuveen
- Landlord: RXR Realty
- Square Footage: 530,000
The deal involved key individuals and companies such as Nuveen as the lender and RXR Realty as the landlord. Scott Rechler, representing RXR Realty, played a significant role in this 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