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Deutsche Bank & Barclays Provide $525M Loan For Office Building In Midtown Manhattan

1 Park Avenue
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This Office property located in NY received a loan of $525,000,000 about 3 years ago. The brokers of the deal were James Millon, Thomas (Tom) Traynor, and P.J. Finley

The recently closed property transaction involves an office asset located at 1 Park Avenue in Midtown. The deal was finalized on 02/08/2021.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $525,000,000
  • Address: 1 Park Avenue
  • Market: Midtown

The loan for this transaction was provided by Deutsche Bank and Barclays. The landlord of the property is Vornado Realty Trust and Canada Pension Plan Investment Board (CPPIB). The brokers involved in the deal were James Millon, Tom Traynor, and PJ Finley from CBRE. The tenants of the office space include Equinox, RAMS Architects, NYU Langone, CitiBank, and Zibetto Espresso.

James Millon, Tom Traynor, and PJ Finley from CBRE represented the parties involved as brokers for this transaction.

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Deals
  • Location
    1 Park Avenue, New York, NY, USA1 Park Avenue, New York, NY, USA
  • Loan Value
    $525,000,000$525,000,000
  • Asset Type
    OfficeOffice
  • Parties
    3 Brokers, 1 Agency, 1 Lender3 Brokers, 1 Agency, 1 Lender

Agents

Thomas (Tom) Traynor

Thomas (Tom) Traynor

Deals18
Financed$5.5B

James Millon

James Millon

Deals19
Financed$7.5B

P.J. Finley

P.J. Finley

Deals9
Financed$4.3B

Agency

CBRE

CBRE

Agency
Deals4230
Volume$184.3B

Deutsche Bank

Deutsche Bank

Lender
Deals117
Volume$ 2.7T

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Deal Summary

LOAN IMAGE: James Millon, Steven Roth, Tom Traynor, Haim Chera & PJ Finley DATE: 02/08/2021 ADDRESS: 1 Park Avenue MARKET: Midtown ASSET TYPE: Office LENDER: Deutsche Bank & Barclays LANDLORD: @VornadoRealtyTrust & Canada Pension Plan Investment Board (CPPIB) BROKERS: James Millon, Tom Traynor & PJ Finley - CBRE TENANTS: @Equinox, @RAMSArchitects, @NYULangone, @CitiBank, @ZibettoEspresso AMOUNT: $525,000,000

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1 Park Avenue

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