Metin Negrin's Lexin Capital Secures $78M Loan For 125,495 SF Office In Midtown East
551 Madison Avenue, New York City, New York 10022, United States
$78,000,000
$621/SF
Building Size
125,495 SF
Asset Type
Office
Closing
Jul 5, 2022
AI
551 Madison Avenue, located in Midtown East, was recently involved in a closed property transaction. The asset type for this transaction was an office building, spanning approximately 125,495 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $78,000,000
- Address: 551 Madison Avenue
- Market: Midtown East
- Lender: Deutsche Pfandbriefbank Ag
- Landlord: Metin Negrin - Lexin Capital
The loan for this transaction was provided by Deutsche Pfandbriefbank Ag. The landlord for the property is Metin Negrin, represented by Lexin Capital.
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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93