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The Crown Building, New Yor...

Apollo Provides $807M Loan For Retail Property At 730 Fifth Avenue In Midtown
FINANCEDRetail

Apollo Provides $807M Loan For Retail Property At 730 Fifth Avenue In Midtown

The Crown Building, New York, NY 10019, USA

$807,000,000

$8,771/SF

Building Size

92,000 SF

Asset Type

Retail

Closing

Aug 25, 2019

AI

The Crown Building, located at 730 Fifth Avenue in Midtown, was the subject of a recent retail transaction. The property spans approximately 92,000 square feet and was sold for a loan amount of $807,000,000. The building is owned by Brookfield and Wharton, with Jeff Sutton possibly involved as well.

Summary of Transaction Details:

  • Property Type: Retail
  • Transaction Amount: $807,000,000
  • Square Footage: 92,000
  • Address: 730 Fifth Avenue
  • Market: Midtown

The transaction was facilitated by AKS Capital Partners, represented by Aaron Appel and Keith Kurland, and JLL, represented by David Sitt. Apollo served as the lender for this deal.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.9B

vol

196 deals

Broker
Brookfield Properties
Brookfield PropertiesBrokerage

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93