260 and 261 Madison Avenue
An office property in New York, New York. Securitized in 1 CMBS deal in 2012.
$460.0MAppraised value (latest deal)
89.6%Occupancy
$23.7MUnderwritten NOI
5.1%Implied cap rate
- Address
- 260 and 261 Madison Avenue, New York, NY 10016
- Property type
- Office · CBD
- Year built
- 1951, 1953
- Size
- 108,977 SF
- Sponsor
- Alex Sapir; Rotem Rosen
- Loan purpose
- Refinance
- Largest tenant
- McLaughlin & Stern
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| COMM 2012-CCRE2 | 2012-08-21 | $460.0M | 89.6% | $23.7M | 5.1% | $105.0M | 50.2% | 1.88x | 424B |
Historical NOI reported in COMM 2012-CCRE2
| Period ending | NOI |
|---|---|
| 12/31/2011 | $19.7M |
| 12/31/2010 | $22.6M |
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%.