Credit Suisse Provides $238M Loan For Office & Retail Property At 980 Madison Avenue On Upper East Side
980 Madison Avenue, New York, NY 10075
$238,000,000
$176/SF
Building Size
1,350,000 SF
Asset Type
Office
Closing
Jul 9, 2020
About this deal
AI
A loan transaction has taken place at 980 Madison Avenue on the Upper East Side. The property involved in this transaction is an office and retail space spanning 1,350,000 square feet. The loan amount for this transaction is $238,000,000.
Summary of transaction details
- Property Type: Office & Retail
- Transaction Amount: $238,000,000
- Address: 980 Madison Avenue
- Market: Upper East Side
Credit Suisse served as the lender for this loan transaction. The landlord of the property is @RFRRealty, represented by Aby Rosen and Gabriel Rosen. The brokers involved in the deal were Dustin Stolly and Jordy Roeschlaub from Newmark.
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93