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175 Water Street

Vanbarton Group sells Office Property In Seaport For $252M
SOLDMultiFamily

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

Jeff Organisciak

Eastdil Secured

Broker

$8.9B

vol

37 deals

Broker
Vanbarton Group
Vanbarton GroupBrokerage
Vanbarton Group
Vanbarton GroupSeller

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