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
About this deal
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.
On the Map
$78,000,000
$621/SF
Office
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Players
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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