JP Morgan Chase Provides $425M Refinance Loan For Office Building At One Times Square In Midtown Manhattan
One Times Square, 1 Times Sq, New York City, New York 10036, United States
$425,000,000
Building Size
—
Asset Type
Office
Closing
May 11, 2022
About this deal
AI
One Times Square, located in Midtown, was involved in a recent closed property transaction. The asset type of the property is an office. The transaction took place on 05/12/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $425,000,000
- Lender: JPMorgan Chase
- Landlord: Jamestown
- Brokers: Grant Frankel, Tanner McNeill & Ethan Pond - Eastdil Secured
The lender for this transaction was JPMorgan Chase, while the landlord involved in the deal was Jamestown. The brokers who facilitated the transaction were Grant Frankel, Tanner McNeill, and Ethan Pond from Eastdil Secured. The loan type for this transaction was a refinance with a loan amount of $425,000,000.
On the Map
$425,000,000
Office
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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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93