New York State Common Retirement Fund Provides $400M Loan For Bergdorfs & Goodmans At 742-754 Fifth Avenue
742 5th Ave, New York, NY 10019, USA
$400,000,000
$1,889/SF
Building Size
211,669 SF
Asset Type
Retail
Closing
Mar 19, 2020
AI
The retail property located at 742-754 Fifth Avenue in the Plaza District was involved in a closed transaction. The property, which is owned by the Goodman family, has a total square footage of 211,669. The transaction involved a loan from the New York State Common Retirement Fund in the amount of $400,000,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $400,000,000
- Address: 742-754 Fifth Avenue
- Market: Plaza District
The lender in this transaction was the New York State Common Retirement Fund. The landlord of the property is the Goodman family.
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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93