Wells Fargo & Citibank Provide $240M Loan For Flatiron District Office Building Acquisition
FINANCED
$240,000,000
New York
See Similar DealsOffice272,566 SF
Financed 06/01/2022
FINANCED
Wells Fargo & Citibank Provide $240M Loan For Flatiron District Office Building Acquisition
79 5th Avenue, New York City, New York 10118, United States
See Similar DealsOffice272,566 SF
Financed 06/01/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$880
Total Square Footage:272,566 SF
Transaction Type:Loan
Located in the Flatiron District, the office property at 79 Fifth Avenue has been involved in a recent closed transaction. Spanning an impressive 272,566 square feet, this office space offers ample room for businesses to thrive.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $240,000,000
- Address: 79 Fifth Avenue
- Market: Flatiron District
- Lender: Citibank, Wells Fargo, and JPMorgan Chase
- Landlord: Albert Kalimian
The lending institutions involved in the deal include Citibank, Wells Fargo, and JPMorgan Chase. Albert Kalimian, the landlord, played a crucial role in this transaction. These key individuals and companies worked together to facilitate the closed transaction at 79 Fifth Avenue.
Players
LENDER
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$240,000,000.00
Monthly NOI$1,600,000.00
Monthly Debt Service$1,516,963.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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