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
- Property Type: Office
- Transaction Amount: $123,000,000
- Lender: Bank of America
- Landlord: Sage Realty - Boris Katsman
- Brokers: James Millon, Tom Traynor & PJ Finley - CBRE
- Loan Type: Refinance
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
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