Vornado, Oxford Properties, Crown Acquisitions & Highgate Secure $800M Loan For 650 Madison Avenue Office
650 Madison Ave, New York, NY 10022, USA
$800,000,000
$153/SF
Building Size
5,230,000 SF
Asset Type
Office
Closing
Nov 23, 2019
About this deal
AI
650 Madison Avenue, located in Lenox Hill, was recently involved in a closed transaction. The property is an office building with a total area of 523,000 square feet. Its zoning classification includes C5-3, C5-2.5, and MiD.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $800,000,000
- Landlord: Vornado Realty Trust, Oxford Properties Group, Crown Acquisitions, and Highgate
- Lender: Citi, Barclays UK, Goldman Sachs, and BMO Harris Bank
- Market: Lenox Hill
The landlords involved in the deal include Vornado Realty Trust, Oxford Properties Group, Crown Acquisitions, and Highgate. The lenders who facilitated the transaction are Citi, Barclays UK, Goldman Sachs, and BMO Harris Bank.
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Vornado Realty Trust to view all their deals.
Browse New York office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93