Rudin Management Company Secures $60M Refinance From Prudential Financial For 641 Lexington Avenue
641 Lexington Avenue
$60,000,000
$140/SF
Building Size
426,775 SF
Asset Type
Office
Closing
Sep 18, 2025
About this deal
AI
The asset involved in this transaction is 641 Lexington Avenue, an office property located in Manhattan, with a total area of 426,775 square feet. The building, which underwent renovations in 2004 and 2013, comprises 32 stories and is situated near Rockefeller Center. It has secured a refinancing loan amounting to $60,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $60,000,000
- Lender: Prudential Financial
- Landlord: Samantha Rudin Earls & Michael Rudin - Rudin Management Company
- Market: Manhattan
- Vacancy Rate: 20.8%
Rudin Management Company played a pivotal role in this transaction, with both Samantha Rudin Earls and Michael Rudin serving as the landlords. The building hosts several tenants, including Gruner & Co. and Alstom.
Players
New York 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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93