Credit Agricole Provides $340M Loan For Office Building At 875 Third Ave
875 3rd Ave, New York, NY 10022, USA
$340,000,000
$45/SF
Building Size
7,500,000 SF
Asset Type
Office
Closing
Jun 10, 2019
About this deal
AI
Eyal Ofer has closed a transaction for an office property located at 875 Third Ave. The property, spanning 750,000 square feet, was involved in a deal with a loan amount of $340,000,000. The office asset is owned by Global Holdings Group and the lender in this transaction was Crédit Agricole.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $340,000,000
- Square Footage: 750,000
- Address: 875 Third Ave
The key individuals involved in this deal were Eyal Ofer, representing Global Holdings Group as the landlord, and the lender Crédit Agricole. The transaction signifies a significant investment in the office property market.
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93