Vanbarton Group sells Office Property In Seaport For $252M
175 Water Street
$252,000,000
$368/SF
Building Size
684,000 SF
Asset Type
MultiFamily
Closing
Oct 11, 2022
AI
The recently closed property transaction in Seaport involved the sale of an office asset located at 175 Water St, New York, NY 10038, USA. The property spans an impressive 684,500 square feet. The transaction took place on October 11, 2022, with a final sale price of $252,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $252,000,000
- Address: 175 Water St, New York, NY 10038, USA
- Market: Seaport
- Buyer: 99c LLC
- Seller: Vanbarton Group
Handling the deal were brokers Andrew Scandalios and Vickram Jambu. Their expertise and knowledge played a vital role in ensuring the successful completion of the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · 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