KEB Hana Bank USA Provides $60 Million Loan For Jae Young Kim's Office Tower In Midtown Manhattan
576 5th Avenue
$60,000,000
Building Size
—
Asset Type
Office
Closing
Jul 16, 2024
About this deal
AI
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.
On the Map
$60,000,000
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93