Polinger Development Co Purchases Property At 99 M St SW Washington DC For $163 Million
SOLD
$163,000,000
Commercial234,000 SF
Sold 02/21/2020
SOLD
Polinger Development Co Purchases Property At 99 M St SW Washington DC For $163 Million
99 M St SW, Washington, DC, 20024
See Similar DealsCommercial234,000 SF
Sold 02/21/2020
Summary
Asset Type:Commercial
Price Per Square Foot:$696
Total Square Footage:234,000 SF
Transaction Type:Sale
The property asset is located at 99 M St SW, Washington, DC, 20024, and was part of a sale transaction. It was sold for $163,000,000.00, encompassing a total area of 234,000 square feet in the Washington market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $163,000,000.00
- Address: 99 M St SW, Washington, DC, 20024
- Market: Washington
- Square Footage: 234,000
- Seller's Representative: James Cassidy - Newmark
- Buyer: Polinger Development Co
The deal involved key individuals and companies, with James Cassidy from Newmark representing the seller in this transaction. Polinger Development Co is the involved buyer acquiring the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,693,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$579,104.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$772,703.16
Annual Debt Service$9,272,437.90
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