245 Park Avenue
An office property in New York, New York. Securitized in 3 CMBS deals in 2017.
$2.21BAppraised value (latest deal)
91.1%Occupancy
$115.3MUnderwritten NOI
5.2%Implied cap rate
- Address
- 245 Park Avenue, New York, NY 10167
- Property type
- Office · CBD
- Year built
- 1965
- Size
- 1,723,993 SF
- Largest tenant
- Société Générale
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| JPMCC 2017-JP6 | 2017-06-16 | $2.21B | 91.1% | $115.3M | 5.2% | $98.0M | 48.9% | 2.73x | 424B |
| DBJPM 2017-C6 | 2017-06-29 | $2.21B | 91.1% | $115.3M | 5.2% | $93.8M | 48.9% | 2.73x | 424B |
| JPMDB 2017-C7 | 2017-10-31 | $2.21B | 91.1% | $115.3M | 5.2% | $32.0M | 48.9% | 2.73x | 424B |
Historical NOI reported in JPMDB 2017-C7
| Period ending | NOI |
|---|---|
| 12/31/2016 | $106.7M |
| 12/31/2015 | $102.7M |
More CMBS properties in New York →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.