Updated Nov 17, 2025
Craig L. DeSanto Of New York Life Insurance And Atit Jariwala Of Bridgeton Holdings Acquire Office Building In Palo Alto For $32M
260 Sheridan Avenue
$32,000,000
$669/SF
Building Size
47,800 SF
Asset Type
Office
Closing
Nov 13, 2025
About this deal
AI
A 47,800-square-foot office building located at 260 Sheridan Avenue in Palo Alto has been acquired by New York Life Insurance in partnership with Bridgeton Holdings. The sale price for this property was $32 million, equating to approximately $669 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $32,000,000
- Address: 260 Sheridan Avenue
- Market: Palo Alto
- Buyer: Craig L. DeSanto - New York Life Insurance
- Buyer: Atit Jariwala - Bridgeton Holdings
- Square Footage: 47,800
- Price Per Square Foot: $669
This deal marks a strategic investment in one of Silicon Valley’s most sought-after office markets, highlighting the commitment of New York Life Insurance and Bridgeton Holdings to enhance their investment portfolios in prime locations.
Players
Palo Alto Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93