John Hancock Life Insurance Company Provides $55M Refinance Loan For Office Building On 57 West 57th Street In Midtown
57 West 57th Street, Manhattan, New York, NY, USA
$55,000,000
$382/SF
Building Size
143,914 SF
Asset Type
Office
Closing
Oct 6, 2021
About this deal
AI
The property involved in this transaction is an office located at 57 West 57th Street in Midtown. It spans a total area of 143,914 square feet.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $55,000,000
- Address: 57 West 57th Street
- Market: Midtown
- Landlord: Jerome Cohen Family
The lender in this loan transaction is John Hancock Life Insurance Company. The loan amount for this refinance is $55,000,000.
The office loan at 57 West 57th Street, Manhattan, New York, NY, USA in New York, New York financed for $55M in 2021. The building is 143,914 square feet, implying about 382 per square foot on the published price. This page is the New York, New York file for the 57 West 57th Street, Manhattan, New York, NY, USA office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else financed near 57 West 57th Street, Manhattan, New York, NY, USA around 2021. Published consideration for 57 West 57th Street, Manhattan, New York, NY, USA is $55M, dated 2021. Cite this John Hancock Life Insurance Company Provides $55M Refinance Loan For Office Building On 57 West 57th Street In Midtown loan when underwriting similar office product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93