Normandy RE Partners Acquires Office Building In Manhattan For $284.5M
SOLD
New Jersey
See Similar DealsOffice583,000 SF
SOLD
Normandy RE Partners Acquires Office Building In Manhattan For $284.5M
Eighty Maiden Lane, 80 Maiden Ln, New York, Ny 10038, Usa
See Similar DealsOffice583,000 SF
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:583,000 SF
Transaction Type:Sale
The property asset involved in the transaction is an office building located at 80-90 Maiden Lane in New York, Manhattan. The asset has a total square footage of 583,000 and was transacted at a price of $284,473,685, which translates to a price per square foot (PPSF) of $487.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $284,473,685
- Address: 80-90 Maiden Lane
- City: New York
- Market: Manhattan
- Square Footage: 583,000
- Price Per Square Foot: $487
- Seller: Read Property Group & The Chetrit Group
- Buyer: Normandy RE Partners
The deal was marked by Normandy RE Partners, a New Jersey investment firm, increasing its stake in the property by paying an additional $54 million. The previous partnership in the property included Kushner Companies since 2014.
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Operating Income
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Cash Flow (Annual)$0.00
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