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440 9th Avenue, New York, N...

Taconic Investment Partners And TH Real Estate Acquire Office And Retail Building On Ninth Avenue For $269M
SOLDMixed-use

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

William Shanahan

CBRE

Broker

$6.4B

vol

20 deals

Broker
TE
TH Real EstateBuyer
UH
Unizo HoldingsSeller

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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