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767 3rd Avenue, New York Ci...

Bank Of America Provides $123M Refinance Loan For Sage Realty's Midtown Manhattan Office Property
FINANCEDOffice

Bank Of America Provides $123M Refinance Loan For Sage Realty's Midtown Manhattan Office Property

767 3rd Avenue, New York City, New York 10017, United States

$123,000,000

Building Size

Asset Type

Office

Closing

Dec 21, 2021

AI

The office building located at 767 Third Avenue in Midtown Manhattan has undergone a recent loan transaction. The property is owned by Sage Realty, represented by Boris Katsman, and is classified as an office asset in the market.

Summary of transaction details

Leading the loan transaction is Bank of America, providing a refinance loan of $123,000,000 for the property located at 767 Third Avenue. Sage Realty, represented by Boris Katsman, serves as the landlord for this office asset. The deal was facilitated by brokers James Millon, Tom Traynor, and PJ Finley of CBRE.

Players

P.J. Finley

CBRE

Broker

$4.3B

vol

9 deals

Broker
Sage realty
Sage realtyBrokerage
Bank of America
Bank of AmericaLender
Sage realty
Sage realtyLandlord

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93