L&L Holding Company Refinances Office Building On Third Avenue For $160M With Credit Agricole Loan
600 3rd Avenue, New York City, New York 10016, United States
$160,000,000
$324,543/SF
Building Size
493 SF
Asset Type
Office
Closing
Feb 3, 2023
AI
Located at 600 Third Avenue in Murray Hill, Manhattan, this office building is a prime asset in the market. With a total square footage of 493,860, the property is owned by L&L Holding Company, represented by Robert T. Lapidus. The recent transaction involving this property was a loan refinance.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $160,000,000
- Date: 03/02/2023
- Lender: Credit Agricole
- Loan Representatives: Amadou M. Diop & Theodore M. Vandermel
- Landlord: L&L Holding Company
- Loan Type: Refinance
The loan was provided by Credit Agricole, with Amadou M. Diop and Theodore M. Vandermel representing the lender. Robert T. Lapidus, from L&L Holding Company, served as the landlord in this transaction.
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93