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Solil Management Secures $18M Refinancing Loan For Office Building On Madison Avenue

Property Image
FINANCED
$18,000,000

New York

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Office76,656 SF
Financed 05/24/2023
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Property Image
FINANCED

Solil Management Secures $18M Refinancing Loan For Office Building On Madison Avenue

598 Madison Avenue New York, New York 10022, USA

See Similar Deals
Office76,656 SF
Financed 05/24/2023
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$234
Total Square Footage:76,656 SF
Transaction Type:Loan

Solil Management secured a refinancing loan valued at $18 million from State Farm Realty Mortgage, represented by State Farm Realty Mortgage, L.L.C., for the office building located at 598 Madison Avenue in Midtown East, Manhattan. The property is an office space spanning 76,656 square feet.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $18,000,000
  • Address: 598 Madison Avenue, Midtown East, Manhattan
  • Lender: State Farm Realty Mortgage - Matthe D. Melick & Christiane M. Stoffer
  • Landlord: Solil Management - Jane H. Goldman

State Farm Realty Mortgage, represented by Matthe D. Melick and Christiane M. Stoffer, provided the refinancing loan to Solil Management for the office building at 598 Madison Avenue. Solil Management, led by Jane H. Goldman, successfully secured the $18 million loan.

Players

State Farm Realty Mortgage
State Farm Realty Mortgage
LENDER
Jane Goldman
Solil Management
Jane Goldman
6 deals$45.7M volume
LANDLORD

Details

FINANCED
IMAGE: 05/24/2023 ADDRESS: 598 Madison Avenue MARKET: Midtown East, Manhattan ASSET TYPE: Office ~ SF: 76,656 LENDER: State Farm Realty Mortgage - Matthe D. Melick & Christiane M. Stoffer LANDLORD: Solil Management - Jane H. Goldman LOAN AMOUNT: $18,000,000 LOAN TYPE: Refinance NOTE: Solil Management secured a refinancing loan valued at $18 million from State Farm Realty Mortgage, represented by State Farm Realty Mortgage, L.L.C., for the office building (O6) located at 598 Madison Avenue in Midtown East, Manhattan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,000,000.00

Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00