David Koeppel Of Koeppel Rosen Secures $57.6 Million Refinancing Loan For Manhattan Office Properties
135 Madison Avenue
$57,600,000
$151/SF
Building Size
381,310 SF
Asset Type
Office
Closing
Sep 30, 2026
About this deal
AI
The transaction involves three office properties located at 135 Madison Avenue, 245 West 29th Street, and 236 West 27th Street in Chelsea, Manhattan. The total square footage of the assets is 381,310. The refinancing loan secured amounts to $57,600,000, sourced from Customers Bank, replacing previous debt held by Apple Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $57,600,000
- Lender: Customers Bank
- Landlord: David Koeppel - Koeppel Rosen
- Market: Chelsea, Manhattan
Koeppel Rosen LLC successfully arranged the refinancing deal for the properties, highlighting their involvement in the management and operation of the assets while securing favorable financing terms from Customers Bank.
On the Map
$57,600,000
$151/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93