Signature Bank Refinances Office Building At 777 Third Avenue, Midtown East For $155M
FINANCED
$275,000,000
New York
See Similar DealsOffice5,975,530 SF
Financed 11/08/2019
FINANCED
Signature Bank Refinances Office Building At 777 Third Avenue, Midtown East For $155M
805 3rd Ave, New York, NY 10022, USA
See Similar DealsOffice5,975,530 SF
Financed 11/08/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$46
Total Square Footage:5,975,530 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$275,000,000.00
Monthly NOI$1,833,333.33
Monthly Debt Service$1,738,187.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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