Vornado Realty Trust Acquires Retail And Commercial Condo Portion In Manhattan For $442M
1535 Broadway, New York, NY 10036, USA
$442,000,000
Building Size
—
Asset Type
—
Closing
Sep 23, 2018
About this deal
AI
The retail and commercial condo portion located at 1535 Broadway in Manhattan, NY has been sold for a staggering price of $442,000,000. The property was previously owned by Host Hotels & Resorts, with James F. Risoleo representing the seller. The buyer in this transaction was Vornado Realty Trust, with Steven Roth serving as their representative.
Summary of transaction details
- Property Type: Retail and Commercial Condo Portion
- Transaction Amount: $442,000,000
- Seller: Host Hotels & Resorts – James F. Risoleo
- Buyer: Vornado Realty Trust – Steven Roth
- Address: 1535 Broadway, Manhattan, NY
This high-profile deal involved two prominent figures in the real estate industry: James F. Risoleo representing Host Hotels & Resorts as the seller, and Steven Roth serving as the buyer's representative for Vornado Realty Trust. The transaction demonstrates the significant investment in the retail and commercial condo portion at 1535 Broadway in Manhattan, NY.
On the Map
$442,000,000
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Players
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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