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271 West 47th Street, New Y...

GreenOak Real Estate And SlatePropertyGroup Acquire Condo At 271 West 47th Street For $280M
SOLD

GreenOak Real Estate And SlatePropertyGroup Acquire Condo At 271 West 47th Street For $280M

271 West 47th Street, New York, NY, USA

$280,000,000

$604/SF

Building Size

463,143 SF

Asset Type

Closing

Nov 27, 2017

AI

GreenOak Real Estate and Slate Property Group have acquired a condo property located at 271 West 47th Street in a transaction on November 28, 2017. The seller, Jack Parker Corporation, completed the sale for a total price of $280,000,000. This property spans 463,143 square feet and consists of 464 units.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $280,000,000
  • Square Footage: 463,143
  • Address: 271 West 47th Street

James Kuhn, David Colen, and Michael Byrne from Newmark Knight Frank brokered the deal between GreenOak Real Estate, Slate Property Group, and Jack Parker Corporation. Martin Nussbaum, David Schwartz, and Sonny Kalsi were also involved in the acquisition.

Players

David Colen

Century 21

Broker

$412.3M

vol

2 deals

Broker
Slate Property Group
Slate Property GroupBuyer
C
CorporationSeller
Slate Property Group
Slate Property GroupLender

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.06%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93