Wafra Capital Partners Acquires Property From Coca-Cola Company For $907 Million At 711 5th Ave
SOLD
$907,000,000
+ 1
New York
See Similar DealsCommercial
Sold 08/23/2019
SOLD
Wafra Capital Partners Acquires Property From Coca-Cola Company For $907 Million At 711 5th Ave
711 5th Ave, New York, NY, 10022
See Similar DealsCommercial
Sold 08/23/2019
+ 1
Summary
NEW YORK
Asset Type:Commercial
Transaction Type:Sale
The property asset involved in this transaction is located at 711 5th Ave, New York, NY, 10022. The Coca-Cola Company was the seller of the property, which was sold for a total price of $907,000,000. The market for this asset is New York, and it is significant to note that the square footage was recorded as 0.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $907,000,000.00
- Address: 711 5th Ave, New York, NY, 10022
- Market: New York
- Seller: Coca-Cola Company
- Buyer: Wafra Capital Partners
- Seller's Representative: Kevin Donner, Adam Spies, Avery Silverstein, Douglas (Doug) Harmon - Newmark
This transaction highlights the involvement of Wafra Capital Partners as the buyer, indicating their commitment to acquiring assets in this location. The deal was managed by a team of representatives from Newmark, who facilitated the sale on behalf of Coca-Cola Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$48,373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,222,379.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,299,642.73
Annual Debt Service$51,595,712.76
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