APF Properties Acquires 183 Madison Avenue Office In Midtown East For $219M
183 Madison Ave, New York, NY 10016, USA
$219,000,000
$799/SF
Building Size
274,000 SF
Asset Type
Office
Closing
Sep 10, 2018
About this deal
AI
Located in Midtown East, at 183 Madison Avenue, an office asset has been sold in a closed transaction. The property was purchased by APF Properties from Tishman Speyer for a price of $219,000,000. The loan amount for the transaction was $182,000,000, provided by LoanCore Capital. The transaction took place on September 11, 2018.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $219,000,000
- Loan Amount: $182,000,000
- Address: 183 Madison Avenue
- Market: Midtown East
Richard Sutton from Meridian Capital Group represented APF Properties in securing the financing for the deal. Darcy Stacom and Ryan Spector from CBRE acted as the representatives for LoanCore Capital, the lender in the transaction.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale 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