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Paramount Group Secures $575M Mortgage For 60 Wall Street Office Tower
FINANCED
$575,000,000
New York
See Similar DealsOffice
Financed 05/03/2024
FINANCED
Paramount Group Secures $575M Mortgage For 60 Wall Street Office Tower
60 Wall Street
See Similar DealsOffice
Financed 05/03/2024
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
Located in the Financial District, the property at 60 Wall Street is an office tower owned by Albert Behler of Paramount Group. The building secured a $575 million mortgage from Aareal Capital Corporation, aiming to revamp the space to attract new tenants.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $575,000,000
- Address: 60 Wall Street
- Market: Financial District
- Lender: Aareal Capital Corporation
- Landlord: Albert Behler - Paramount Group
Paramount Group, led by Albert Behler, successfully secured a significant $575 million mortgage for the vacant office tower located at 60 Wall Street in the Financial District. The strategic move to revamp the property reflects their dedication to modernizing the space and attracting new tenants, highlighting their commitment to revitalizing the area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$575,000,000.00
Monthly NOI$3,833,333.33
Monthly Debt Service$3,634,391.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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