Signature Bank Refinances Office Property At 286 5th Ave, Brooklyn For $19M
286 5th Ave, Brooklyn, NY 11215, USA
$19,000,000
$428/SF
Building Size
44,380 SF
Asset Type
Office
Closing
Dec 12, 2017
About this deal
AI
The office building located at 286 5th Ave, Brooklyn, NY 11215, USA has recently undergone a loan transaction. The loan, which took place on September 12, 2022, was a refinancing arrangement. Signature Bank, represented by Elizabeth Arato, provided a loan amount of $19,000,000. The building, situated in the Penn Station market in Manhattan, is owned by Jack Aini. No broker was involved in this loan transaction.
Summary of transaction details
- Property Type: Office
- Loan Amount: $19,000,000
- Loan Type: Refinance
- Lender: Signature Bank - Elizabeth Arato
- Landlord: Jack Aini
Solly Spigel of SJ Realty Management LLC, under the representation of Solly Spigel, was responsible for the building management of the office property located at 286 5th Ave, Brooklyn, NY 11215, USA.
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93