Durst Organization Refinances Midtown East Office Property With $100 Million Loan From JPMorgan Chase Bank
825 3rd Avenue, New York City, New York 10022, United States
$100,000,000
$199/SF
Building Size
501,251 SF
Asset Type
Office
Closing
Apr 18, 2022
About this deal
AI
The property asset involved in this transaction is an office located at 825 Third Avenue in Midtown East. The loan is a refinance loan provided by JPMorgan Chase Bank, with a loan amount of $100,000,000. The loan terms are for a duration of 3 years.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $100,000,000
- Address: 825 Third Avenue
- Market: Midtown East
The landlord of the property is the Durst Organization, represented by Lucas Durst and Tom Bow. They are responsible for managing the property and overseeing the leasing activities.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93