Signature Bank Provides $30M Loan For Office Building In Times Square
721 7th Avenue, Manhattan, New York, NY, USA
$30,000,000
$636/SF
Building Size
47,125 SF
Asset Type
Office
Closing
Mar 9, 2021
About this deal
AI
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.
On the Map
$30,000,000
$636/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Jack Cohen 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93