Signature Bank Provides $30M Loan For Office Building In Times Square
FINANCED
$30,000,000
New York
See Similar DealsOffice47,125 SF
Financed 03/10/2021
FINANCED
Signature Bank Provides $30M Loan For Office Building In Times Square
721 7th Avenue, Manhattan, New York, NY, USA
See Similar DealsOffice47,125 SF
Financed 03/10/2021
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$636
Total Square Footage:47,125 SF
Transaction Type:Loan
The office property located at 721 Seventh Avenue in Times Square has been involved in a loan transaction. Signature Bank provided a loan amount of $30,000,000 for this property. The total square footage of the property is 47,125.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,000,000
- Address: 721 Seventh Avenue
- Market: Times Square
- Landlord: Jack Cohen - Comjem Associates
In this transaction, Signature Bank acted as the lender for the loan. The landlord of the property is Jack Cohen, representing Comjem Associates.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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