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Jeff T. Blau Of Related Companies Acquires Industrial Asset From Soheil Khayyam For $52M
SOLD
$52,000,000
New York
See Similar DealsIndustrial44,448 SF
Sold
SOLD
Jeff T. Blau Of Related Companies Acquires Industrial Asset From Soheil Khayyam For $52M
467 10th Avenue
See Similar DealsIndustrial44,448 SF
Sold
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1169
Total Square Footage:44448 SF
Transaction Type:Sale
An industrial building located at 467 10th Avenue in Hudson Yards, Manhattan was sold for a price of $52,000,000. The property has a building size of 74,080 BSF, resulting in a price per BSF of $702. The square footage of the property is 44,448 SF, leading to a price per SF of $1,170.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $52,000,000
- Buyer: Jeff T. Blau - Related Companies
- Seller: Soheil Khayyam
After the transaction, Related Companies acquired the cash-flowing asset from seller Soheil Khayyam, marking a significant addition to their portfolio in the Hudson Yards market.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35
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