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
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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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