Truist Bank Provides $53.3M Acquisition Loan For Office Building At 830 3rd Ave In Midtown
830 3rd Avenue
$53,250,000
$362/SF
Building Size
147,068 SF
Asset Type
Office
Closing
Aug 29, 2022
About this deal
AI
The property involved in this transaction is an office located at 830 3rd Ave in Midtown. The property has a total area of 147,068 square feet. The transaction took place on 08/29/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $53,250,000
- Address: 830 3rd Ave
- Market: Midtown
The lender for this transaction is Truist Bank. The landlords involved in the deal are Empire Capital Holdings represented by Josh Rahmani, Ebi Khalili, and Aaron Bergman, and Namdar Realty represented by Igal Namdar.
The brokers involved in this transaction are Aaron Niedermayer, Max Herzog, Robert Tonnessen, and Marko Kazanjian from JLL, and Eliliott Kunstlinger from Meridian Capital.
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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93