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805 3rd Ave, New York, NY 1...

Signature Bank Refinances Office Building At 777 Third Avenue, Midtown East For $155M
FINANCEDOffice

Signature Bank Refinances Office Building At 777 Third Avenue, Midtown East For $155M

805 3rd Ave, New York, NY 10022, USA

$275,000,000

$46/SF

Building Size

5,975,530 SF

Asset Type

Office

Closing

Nov 7, 2019

AI

The property involved in this transaction is an office building located at 777 Third Avenue in Midtown East, Manhattan. The building spans a total square footage of 563,420. The transaction took place on November 18, 2022.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $155,000,000
  • Address: 777 Third Avenue
  • Market: Midtown East, Manhattan
  • Lender: Signature Bank - Michael Riegler
  • Landlord: William Kaufman Organization - Jonathan Iger
  • Loan Type: Refinance

The lender in this transaction was Signature Bank, represented by Michael Riegler. The landlord, on the other hand, was the William Kaufman Organization, with Jonathan Iger representing them. The loan amount for the refinance was $155,000,000.

Players

Citibank
CitibankLender

Jonathan Iger

Sage realty

Landlord

$747.5M

vol

7 deals

Landlord

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

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93