FINANCED
First Republic Bank Refinances Office Building In New York For $46.5M
160 w 124th st
Office
89,400 SF
89,400 SF
Financed 1 year ago
Summary
Loan
NEW YORK
Office
89,400 sqft
The office building located at 160 W 124th St in New York has recently undergone a loan transaction. The property spans an area of 89,400 square feet and is owned by Park-It Management.
Summary of transation details
- Property Type: Office
- Transaction Amount: $46,500,000
- Lender: First Republic Bank
- Loan Type: Refinance
- Loan Terms: 10-year fixed-rate loan at 5.10%
The loan was provided by First Republic Bank. It is a 10-year fixed-rate loan at an interest rate of 5.10%. The implied spread at the rate lock was 140 basis points over the 10-year UST. The loan is structured as a par loan with a 3-year interest-only period.
Robert Altman from Altman Warwick represented the borrower, Park-It Management, in this loan refinance deal.
Players
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2
Agents
1
Lenders
1
Details
FINANCED
IMAGE: Robert Altman
DATE: 12/20/2022
ADDRESS: 160 W 124th St
MARKET: New York
ASSET TYPE: Office ~ SF: 89,400
LENDER: First Republic Bank (@FirstRepublic)
LANDLORD: Park-It Management
BROKER: Robert Altman - Altman Warwick
LOAN AMOUNT: $46,500,000
LOAN TYPE: Refinance
LOAN TERMS: 10-year fixed-rate loan at 5.10%. Implied spread at rate lock was 140 bps over 10 yr UST. Par loan with 3 years I/O.View on map
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Address160 w 124th st
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