Apple Bank Refinances Office Buildings On Fifth Avenue And Sixth Avenue In Midtown Manhattan For $93M
FINANCED
$93,016,877
New York
See Similar DealsOffice18,075 SF
Financed 10/12/2021
FINANCED
Apple Bank Refinances Office Buildings On Fifth Avenue And Sixth Avenue In Midtown Manhattan For $93M
565 Fifth Avenue, Manhattan, New York, NY, USA
See Similar DealsOffice18,075 SF
Financed 10/12/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$5,146
Total Square Footage:18,075 SF
Transaction Type:Loan
An office property located at 565 Fifth Avenue and 1212 Sixth Avenue in Midtown has recently undergone a refinancing transaction. The property is owned by Stawski Partners and features a loan provided by Apple Bank. The loan amount for this transaction is $93,016,877.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $93,016,877
- Address: 565 Fifth Avenue & 1212 Sixth Avenue
- Market: Midtown
The loan was obtained to refinance the office property. Stawski Partners, the landlord, was involved in the transaction as well. The deal was finalized on 10/12/2021.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$93,016,877.00
Monthly NOI$620,112.51
Monthly Debt Service$587,929.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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