Vornado, Oxford Properties, Crown Acquisitions & Highgate Secure $800M Loan For 650 Madison Avenue Office
FINANCED
$800,000,000
New York
See Similar DealsOffice5,230,000 SF
Financed 11/24/2019
FINANCED
Vornado, Oxford Properties, Crown Acquisitions & Highgate Secure $800M Loan For 650 Madison Avenue Office
650 Madison Ave, New York, NY 10022, USA
See Similar DealsOffice5,230,000 SF
Financed 11/24/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$153
Total Square Footage:5,230,000 SF
Transaction Type:Loan
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
BROKERAGE
BROKERAGE
BROKERAGE
LENDER
LENDER
LANDLORD
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$800,000,000.00
Monthly NOI$5,333,333.33
Monthly Debt Service$5,056,544.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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