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sl green realty corp. it happens here 2012 annual report 85 | 85 in april a02011, we purchased sitq immobilier, a subsid- iary of caisse de depot et placement du quebec, or sitq 2019s, 31.5% (31.5%) economic interest in 1515 a0 broadway, thereby consoli- dating full ownership of the 1750000 a0square foot (unaudited) building. the transaction valued the consolidated interests at $1.23 a0 billion. this valuation was based on a negotiated sales agreement and took into consideration such factors as whether this was a distressed sale and whether a minority dis- count was warranted. we acquired the interest subject to the $458.8 a0million mortgage encumbering the property. we rec- ognized a purchase price fair value adjustment of $475.1 a0mil- lion upon the closing of this transaction. this property, which we initially acquired in may a02002, was previously accounted for as an investment in unconsolidated joint ventures. in january a0 2011, we purchased city investment fund, or cif 2019s, 49.9% (49.9%) a0interest in 521 a0fifth avenue, thereby assum- ing full ownership of the 460000 a0 square foot (unaudited) building. the transaction valued the consolidated interests at approximately $245.7 a0 million, excluding $4.5 a0 million of cash and other assets acquired. we acquired the interest subject to the $140.0 a0 million mortgage encumbering the property. we recognized a purchase price fair value adjust- ment of $13.8 a0million upon the closing of this transaction. in april a02011, we refinanced the property with a new $150.0 a0mil- lion 2-year mortgage which carries a floating rate of interest of 200 a0basis points over the 30-day libor. in connection with that refinancing, we acquired the fee interest in the property for $15.0 a0million. the following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these 2011 acquisitions (amounts in thousands): 51 east 180 110 east 1515 521 fifth 42nd street maiden lane 42nd street broadway avenue land fffd$44095 $191523 $34000 $2002 2008462700 $110100.
|  | 51 East 42<sup>nd</sup> Street | 180 Maiden Lane | 110 East 42<sup>nd</sup> Street | 1515 Broadway | 521 Fifth Avenue |
| --------- | --------- | --------- | --------- | --------- | --------- |
| Land | $44,095 | $191,523 | $34,000 | $462,700 | $110,100 |
| Building | 33,470 | 233,230 | 46,411 | 707,938 | 146,686 |
| Above market lease value | 5,616 | 7,944 | 823 | 18,298 | 3,318 |
| Acquired in-place leases | 4,333 | 29,948 | 5,396 | 98,661 | 23,016 |
| Other assets, net of other liabilities | — | — | — | 27,127 | — |
| Assets acquired | 87,514 | 462,645 | 86,630 | 1,314,724 | 283,120 |
| Fair value adjustment to mortgage note payable | — | — | — | (3,693) | — |
| Below market lease value | 7,514 | 20,320 | 2,326 | 84,417 | 25,977 |
| Liabilities assumed | 7,514 | 20,320 | 2,326 | 80,724 | 25,977 |
| Purchase price allocation | $80,000 | $442,325 | $84,304 | $1,234,000 | $257,143 |
| Net consideration funded by us at closing | $81,632 | $81,835 | $2,744 | $259,228 | $70,000 |
| Equity and/or debt investment held | — | — | $16,000 | $40,942 | $41,432 |
| Debt assumed | $— | $— | $65,000 | $458,767 | $140,000 |
net consideration funded by us at closing fffd$81632 $200281835 $20022744 $2002 2008259228 $200270000 equity and/or debt investment held fffd 2014 2014 $16000 $2002 2002 200840942 $200241432 debt assumed fffd$2002 2002 2002 2002 2008 2014 $2002 2002 2002 2002 2002 2008 2014 $65000 $2002 2008458767 $140000 2010 acquisitions | in january 2010, we became the sole owner of 100 a0church street, a 1.05 a0million square foot (unau- dited) office tower located in downtown manhattan, following the successful foreclosure of the senior mezzanine loan at the property. our initial investment totaled $40.9 a0million, which was comprised of a 50% (50%) a0interest in the senior mezzanine loan and two other mezzanine loans at 100 a0 church street, which we acquired from gramercy capital corp. (nyse: a0gkk), or gramercy, in the summer of a0 2007. at closing of the foreclo- sure, we funded an additional $15.0 a0million of capital into the project as part of our agreement with wachovia bank, n.a. to extend and restructure the existing financing. gramercy declined to fund its share of this capital and instead trans- ferred its interests in the investment to us at closing. the restructured $139.7 a0million mortgage carries an interest rate of 350 a0basis points over the 30-day libor. the restructured mortgage, which was scheduled to mature in january a0 2013, was repaid in march a02011. in august a0 2010, we acquired 125 a0 park avenue, a manhattan office tower, for $330 a0million. in connection with the acquisition, we assumed $146.25 a0million of in-place financ- ing. the 5.748% (5.748%) interest-only loan matures in october a02014. in december a02010, we completed the acquisition of various investments from gramercy. this acquisition included (1) a0the remaining 45% (45%) a0interest in the leased fee at 885 a0third avenue for approximately $39.3 a0 million plus assumed mortgage debt of approximately $120.4 a0million, (2) a0the remaining 45% (45%) interest in the leased fee at 2 a0 herald square for approxi- mately $25.6 a0 million plus assumed mortgage debt of approximately $86.1 a0 million and, (3) a0 the entire leased fee interest in 292 a0madison avenue for approximately $19.2 a0mil- lion plus assumed mortgage debt of approximately $59.1 a0million. these assets are all leased to third a0party operators. .
Please answer the following questions with expressions if necessary.
what was the value of the consolidated interests?
assistant
245.7
human
what was the interest rate of cifs?
assistant
49.9%
human
what is the product of the value of consolidated interests by the interest rate?
assistant
multiply(245.7, 49.9%)
human
what is the value time 1000000?
assistant
multiply(245.7, 49.9%), multiply(#0, const_1000000)