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
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