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Ramrock Real Estate LLC Acquires Property From Silvermintz Family For $257 Million In New York

Property Image
SOLD
$257,000,000
Kevin Donner
James G. Stein
SF

New York

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Commercial167,000 SF
Sold 08/01/2018
the dealplayerscompscontact
Property Image
SOLD

Ramrock Real Estate LLC Acquires Property From Silvermintz Family For $257 Million In New York

540 W 26th St, New York, NY, 10001

See Similar Deals
Commercial167,000 SF
Sold 08/01/2018
Kevin Donner
James G. Stein
SF
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$1,538
Total Square Footage:167,000 SF
Transaction Type:Sale

The property asset involved in the transaction is located at 540 W 26th St, New York, NY, 10001. The sale price of the property was $257,000,000.00 and it encompasses a total square footage of 167,000. The market for this transaction is New York.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $257,000,000.00
  • Address: 540 W 26th St, New York, NY, 10001
  • Market: New York
  • Buyer: Ramrock Real Estate LLC
  • Seller: Silvermintz Family
  • Buyer's Representative: James G. Stein - Lincoln Property Company
  • Seller's Representative: Kevin Donner - Newmark
  • Total Square Footage: 167,000

The transaction involved key representatives in the real estate market. James G. Stein from Lincoln Property Company represented the buyer, Ramrock Real Estate LLC, while Kevin Donner from Newmark represented the seller, Silvermintz Family. The collaboration of these representatives facilitated the property sale.

Players

Kevin Donner
Newmark
Kevin Donner
48 deals$10.1B volume
BROKER
James G. Stein
Lincoln Property Company
James G. Stein
2 deals$257M volume
BROKER
RL
Ramrock Real Estate LLC
BUYER
SF
Silvermintz Family
2 deals$517M volume
SELLER

Details

SOLD
IMAGE: 540 W 26th St, New York, NY, 10001 MARKET: New York BUYER'S REP: James G. Stein - Lincoln Property Company SELLER'S REP: Kevin Donner - Newmark BUYER: Ramrock Real Estate LLC SELLER: Silvermintz Family PRICE: $257,000,000.00 SF: 167000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$13,706,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$913,066.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,218,311.12
Annual Debt Service$14,619,733.38