Hakimian Organization Refinances Hell's Kitchen Office Building In Manhattan For $240M With JPMorgan Chase And Citi Real Estate Funding
FINANCED
$240,000,000
New York
See Similar DealsOffice660,000 SF
Financed 11/29/2020
FINANCED
Hakimian Organization Refinances Hell's Kitchen Office Building In Manhattan For $240M With JPMorgan Chase And Citi Real Estate Funding
636 11th Ave, New York, NY 10036, USA
See Similar DealsOffice660,000 SF
Financed 11/29/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$363
Total Square Footage:660,000 SF
Transaction Type:Loan
The Hell’s Kitchen office building located at 636 11th Avenue in Manhattan has recently undergone a refinancing transaction. This property spans across 660,000 square feet and has been a subject of interest for investors. The refinance deal involved a loan amounting to $240,000,000.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $240,000,000
- Address: 636 11th Avenue, New York
- Market: Manhattan
The landlord of the Hell’s Kitchen office building is the Hakimian Organization, represented by Joe Hakimian. On the other hand, the lender in this refinancing deal includes Jamie Dimon from JPMorgan Chase and Citi Real Estate Funding.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$240,000,000.00
Monthly NOI$1,600,000.00
Monthly Debt Service$1,516,963.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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