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.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93