Helaba Provides $23.3M Loan For Office Building At 579 Fifth Avenue
579 Fifth Avenue, New York, NY, USA
$23,339,950
$178/SF
Building Size
130,715 SF
Asset Type
Office
Closing
Jun 6, 2021
About this deal
AI
A loan for the property located at 579 Fifth Avenue in the Grand Central market has been secured. The lender, helaba''>Helaba, has provided a loan amount of $23,339,950 for the property. The office asset spans across an area of 130,715 square feet. The landlord of the property is Stawski Partners.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $23,339,950
- Address: 579 Fifth Avenue
- Market: Grand Central
- Landlord: Stawski Partners
The loan from Helaba will support the ownership and operations of the office property at 579 Fifth Avenue. Axel Stawski and Thomas Grob, representing the landlord Stawski Partners, played a pivotal role in the transaction.
Players
Watervliet Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93