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One Times Square, 1 Times S...

JP Morgan Chase Provides $425M Refinance Loan For Office Building At One Times Square In Midtown Manhattan
FINANCEDOffice

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

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

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.

Players

Ethan Pond

Eastdil Secured

Broker

$13.3B

vol

28 deals

Broker
J.P. Morgan Chase
J.P. Morgan ChaseLender
Jamestown
JamestownLandlord

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