Alchemy - ABR Investment Partners Acquires Mixed-Use Property At 125 West 57th Street, Midtown Manhattan
125 West 57th Street, Manhattan, New York, NY 10019, USA
$250,000,000
$1,307/SF
Building Size
191,261 SF
Asset Type
Mixed-use
Closing
Jun 15, 2020
About this deal
AI
The mixed-use property located at 125 West 57th Street in Midtown has recently undergone a closed transaction. The loan amount for this property was $250,000,000. The lenders involved in this deal were Security Benefit Life and CAIN International.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $250,000,000
- Address: 125 West 57th Street
- Market: Midtown
The property transaction was facilitated by the landlord, which includes Alchemy - ABR Investment Partners represented by Brian Ray, Ken Horn, and Joel Breitkopf, and Cain International represented by Jonathan Goldstein and Eric Poretsky. The brokers involved in this deal were Max Herzog, Evan Pariser, and Marko Kazanjian from JLL, as well as Adam Steinberg, Marc Warren, and Simon Ziff from Ackman-Ziff.
On the Map
$250,000,000
$1,307/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan 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