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575 Fifth Avenue

Updated Apr 24, 2026

Sovereign Partners Secures $268.05 Million Loan From Ladder Capital For 575 Fifth Avenue Office
FINANCEDOffice

Sovereign Partners Secures $268.05 Million Loan From Ladder Capital For 575 Fifth Avenue Office

575 Fifth Avenue

$285,050,000

Building Size

—

Asset Type

Office

Closing

Apr 15, 2026

About this deal

AI

The asset involved in this transaction is an office property located at 575 Fifth Avenue, situated in the Manhattan market. The acquisition loan provided amounts to $268,050,000, specifically designated for this property transaction.

Summary of transaction details:

This transaction associates key individuals and entities in the financing of the property. The lenders from Ladder Capital play a crucial role in the provision of the acquisition loan. The landlord, Sovereign Partners, is represented in this deal by a team from Eastdil Secured, which includes Grant Frankel, Rob Turner, Drew Ahlers, and Wyatt Devine, notable figures in the real estate finance sector.

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$285,050,000

Office

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Players

Drew Ahlers

Eastdil Secured Savills

Broker

$8.3B

vol

17 deals

Broker
Ladder Capital
Ladder CapitalLender
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New York Office Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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