Updated Nov 28, 2024
Silverstein Properties Acquires Office Building In Financial District, DTLA For $430M
633 W 5th St, Los Angeles, CA 90071, USA
$430,000,000
$307/SF
Building Size
1,400,000 SF
Asset Type
Office
Closing
Jul 20, 2020
About this deal
AI
Larry Silverstein, Marty Burger, and Stephen Riady have recently closed a property transaction in the Financial District of Downtown Los Angeles. The office building located at 633 West Fifth St was sold for a price of $430,000,000. The property spans a total area of 1,400,000 square feet, resulting in a price per square foot of $307.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $430,000,000
- Square Footage: 1,400,000
- Price Per Square Foot: $307
- Address: 633 West Fifth St
- Market: Financial District, DTLA
The buyer in this transaction is Silverstein Properties, while the seller is OUE Limited, represented by Stephen Riady.
Players
Los Angeles 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93