Savanna Acquires Office Building On Lexington Avenue For $180M
360 Lexington Ave, New York, NY 10017, USA
$180,000,000
$755/SF
Building Size
238,294 SF
Asset Type
Mixed-use
Closing
May 27, 2019
About this deal
AI
The office property located at 360 Lexington Avenue in Midtown East has been sold for $180,000,000. The building spans across 262,605 square feet, resulting in a price per square foot of $685.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $180,000,000
- Square Footage: 262,605
- Price Per Square Foot: $685
Savanna has acquired the property from AEW Capital. @WebsterBank is the tenant occupying this office space. Notably, AEW Capital had purchased the property in 2008 for $129.5 million.
The mixed use sale at 360 Lexington Ave, New York, NY 10017, USA in New York, New York sold for $180M in 2019. The building is 238,294 square feet, implying about 755 per square foot on the published price. This page is the New York, New York file for the 360 Lexington Ave, New York, NY 10017, USA mixed use sold: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else sold near 360 Lexington Ave, New York, NY 10017, USA around 2019. Published consideration for 360 Lexington Ave, New York, NY 10017, USA is $180M, dated 2019. Cite this Savanna Acquires Office Building On Lexington Avenue For $180M sale when underwriting similar mixed use product around New York, New York.
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New York Mixed-use Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93