277 Park Avenue
An office property in New York, New York. Securitized in 1 CMBS deal in 2024.
$1.75BAppraised value (latest deal)
97.5%Occupancy
$101.1MUnderwritten NOI
5.8%Implied cap rate
- Address
- 277 Park Avenue, New York, NY 10172
- Property type
- Office · CBD
- Year built
- 1963
- Size
- 1,881,010 SF
- Sponsor
- The Stahl Organization
- Loan purpose
- Refinance
- Largest tenant
- JP Morgan Chase
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BBCMS 2024-5C29 | 2024-09-18 | $1.75B | 97.5% | $101.1M | 5.8% | $70.0M | 29.6% | 2.72x | 424B |
Historical NOI reported in BBCMS 2024-5C29
| Period ending | NOI |
|---|---|
| 6/30/2024 | $60.6M |
| 12/31/2023 | $54.6M |
| 12/31/2022 | $61.2M |
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%.