Taconic Investment Partners And TH Real Estate Acquire Office And Retail Building On Ninth Avenue For $269M
440 9th Avenue, New York, NY 10001
$269,000,000
$654/SF
Building Size
411,000 SF
Asset Type
Mixed-use
Closing
Dec 6, 2018
AI
440 Ninth Avenue, an office and retail property, was recently sold in a closed transaction. The property spans 411,000 square feet and is located in [ADDRESS]. The sale price for this transaction was $269,000,000, resulting in a price per square foot of $654.
Summary of transaction details
- Property Type: Office & retail
- Sale Price: $269,000,000
- Square Footage: 411,000
- Price per Square Foot: $654
The property was sold by Unizo Holdings to the buying party comprised of Taconic Investment Partners and TH Real Estate. The transaction was facilitated by Darcy Stacom and Bill Shanahan of CBRE, who represented the buyers as brokers.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale 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