David Werner Secures $250 Million Acquisition Loan For 885 2nd Avenue Office In Manhattan
FINANCED
$250,000,000
+ 2
New York
See Similar DealsOffice870,000 SF
Financed 06/09/2026
FINANCED
David Werner Secures $250 Million Acquisition Loan For 885 2nd Avenue Office In Manhattan
885 2nd Avenue
See Similar DealsOffice870,000 SF
Financed 06/09/2026
+ 2
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$287
Total Square Footage:870,000 SF
Transaction Type:Loan
The property asset involved in this transaction is located at 885 2nd Avenue in Manhattan. This office space encompasses a total square footage of 870,000 and pertains to an acquisition loan of $250,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $250,000,000
- Address: 885 2nd Avenue
- Market: Manhattan
- Lender: Jamie Dimon
- Landlord: David Werner
- Landlord's Representative: Jordan Roeschlaub, Nick Scribani & Christopher Kramer - Newmark
The deal involves key individuals such as the lender Jamie Dimon and landlord David Werner. The representatives for the landlord, facilitating this transaction, are Jordan Roeschlaub, Nick Scribani, and Christopher Kramer from Newmark.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$250,000,000.00
Monthly NOI$1,666,666.67
Monthly Debt Service$1,580,170.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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