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
$900,000,000
$18,868/SF
Building Size
47,698 SF
Asset Type
Office
Closing
Mar 21, 2022
About this deal
AI
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.
On the Map
$900,000,000
$18,868/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93