Extell Acquires 47 West 66th Street Office Building In Upper West Side For $930M
FINANCED
$900,000,000
New York
See Similar DealsOffice47,698 SF
Financed 03/22/2022
FINANCED
Extell Acquires 47 West 66th Street Office Building In Upper West Side For $930M
47 West 66th Street, New York City, New York 10023, United States
See Similar DealsOffice47,698 SF
Financed 03/22/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$18,868
Total Square Footage:47,698 SF
Transaction Type:Loan
Located at 47 West 66th Street on the Upper West Side of Manhattan, this office property was involved in a recent transaction. The property was purchased by Extell, led by Gary Barnett, from Silverstein Properties for approximately $930 million. The sale was brokered by Will Silverman and Gary Philips of Eastdil. Currently, the property is leased to Disney and ABC studios.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $930,000,000
- Address: 47 West 66th Street
- Market: Upper West Side
The loan for this acquisition was provided by Guggenheim Partners and Aquarian Holdings. Extell, the landlord in this transaction, secured a loan amount of $900,000,000. This loan will aid in financing the purchase of the property. Extell, led by Gary Barnett, has acquired the property in order to lease it to Disney and ABC studios.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$900,000,000.00
Monthly NOI$6,000,000.00
Monthly Debt Service$5,688,612.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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