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Apple Bank Provides $9.25M Loan For Office Building At 695 Lexington Avenue In Midtown East

Property Image
FINANCED
$9,250,000

New York

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Office1,004,000 SF
Financed 02/20/2020
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Property Image
FINANCED

Apple Bank Provides $9.25M Loan For Office Building At 695 Lexington Avenue In Midtown East

695 Lexington Ave, New York, NY 10022, USA

See Similar Deals
Office1,004,000 SF
Financed 02/20/2020
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$9
Total Square Footage:1,004,000 SF
Transaction Type:Loan

The property at 695 Lexington Avenue in Midtown East has been involved in a recent closed transaction. The asset is an office space spanning 100,400 square feet. The deal was facilitated by Brian Warwick of ABS Altman Warwick.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $9,250,000
  • Loan Amount: $9,250,000
  • Loan Terms: 10 Years, Full term Interest Only
  • Address: 695 Lexington Avenue
  • Market: Midtown East
  • Lender: Apple Bank
  • Landlord: ABS Partners & East End Capital
  • Square Footage: 100,400

The deal involved multiple parties, including the lender, Apple Bank, and the landlord, ABS Partners & East End Capital. The loan had a duration of 10 years and full term interest-only terms. The broker representing the transaction was Brian Warwick from ABS Altman Warwick.

Players

Brian Warwick
ABS Altman Warwick
Brian Warwick
10 deals$506M volume(516) 616-5151
BROKER
Apple Bank
Apple Bank
LENDER
East End Capital
East End Capital
LANDLORD
AP
ABS Partners
LANDLORD

Details

FINANCED
IMAGE: Gregg Schenker, @Brian.Warwick_, Jonn Yormak DATE: 02/20/2020 ADDRESS: 695 Lexington Avenue MARKET: Midtown East ASSET TYPE: Office LENDER: Apple Bank LANDLORD: ABS Partners & East End Capital LOAN AMOUNT: $9,250,000 LOAN TERMS: 10 Years, Full term Interest Only SF: 100,400 BROKER: Brian Warwick – ABS Altman Warwick

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,250,000.00

Monthly NOI$61,666.67
Monthly Debt Service$58,466.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00