DivcoWest Real Estate Investments Secures $170M Loan For Office Property On Madison Avenue In Midtown
540 Madison Avenue
$170,000,000
Building Size
—
Asset Type
Office
Closing
Aug 28, 2019
About this deal
AI
540 Madison Avenue, located in Midtown, is the subject of a recent property transaction. The office building, owned by DivcoWest Real Estate Investments, has attracted attention from lenders and brokers. The property boasts a prime location in the Midtown market, making it an appealing asset for potential investors and tenants.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $170,000,000
- Lender: SunTrust Bank and BNY Mellon
- Landlord: DivcoWest Real Estate Investments
- Brokers: CBRE – Tom Traynor and James Millon
The loan amount for the transaction is $170,000,000. CBRE, represented by Tom Traynor and James Millon, played a pivotal role in facilitating the deal. Their expertise in the real estate market ensured a successful transaction for all parties involved. The involvement of lenders such as SunTrust Bank and BNY Mellon further solidifies the credibility and desirability of the property.
On the Map
$170,000,000
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93