Ruben Companies Secures $65M Loan From The Bank Of NY Mellon For 880 3rd Ave Office In Plaza District
880 3rd Ave, New York, NY 10022, USA
$65,000,000
$46/SF
Building Size
1,404,000 SF
Asset Type
Office
Closing
Nov 4, 2019
AI
The property involved in this transaction is located at 880 3rd Ave in the Plaza District. It is an office building with a total square footage of 140,400. The transaction took place on November 5, 2019.
Summary of transation details
- Property Type: Office
- Transaction Amount: $65,000,000
- Lender: The Bank Of NY Mellon
- Landlord: Ruben Companies
The Bank Of NY Mellon provided a loan of $65,000,000 for this transaction. Ruben Companies is the landlord for the property at 880 3rd Ave.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93