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KEB Hana Bank USA Provides $60 Million Loan For Jae Young Kim's Office Tower In Midtown Manhattan
FINANCED
$60,000,000
New York
See Similar DealsOffice
Financed 07/16/2024
FINANCED
KEB Hana Bank USA Provides $60 Million Loan For Jae Young Kim's Office Tower In Midtown Manhattan
576 5th Avenue
See Similar DealsOffice
Financed 07/16/2024
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
The property asset involved in this transaction is an office tower located at 576 5th Avenue in Midtown Manhattan. The loan amount issued for this asset is $60,000,000, supporting both its operations and future plans.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $60,000,000
- Address: 576 5th Avenue
- Market: Midtown Manhattan
- Lender: KEB Hana Bank USA
- Landlord: Jae Young Kim
The key individuals involved in this transaction include Jae Young Kim, who serves as the landlord of the office asset, and KEB Hana Bank USA, which is the lender providing the financing for the property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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