facebook
Traded Co logo
Submit

The Birch Group Acquires Office Property In Jericho For $212M

Property Image
SOLD
$212,000,000
David Bernhaut
Andrew (Andy) Merin
+ 3

New York

See Similar Deals
Office665,592 SF
Sold 12/31/2021
the dealplayerscompscontact
Property Image
SOLD

The Birch Group Acquires Office Property In Jericho For $212M

1 Jericho Plaza, Jericho, New York 11753, United States

See Similar Deals
Office665,592 SF
Sold 12/31/2021
David Bernhaut
Andrew (Andy) Merin
+ 3
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$318
Total Square Footage:665,592 SF
Transaction Type:Sale

Located in Jericho, the office property at 1 & 2 Jericho Plaza has been sold in a recent transaction. The sale, which took place on December 31, 2021, involved The Birch Group, represented by Mark Meisner, as the buyer, and DRA Advisors and Onyx Equities as the seller. The property was marketed by brokers David Bernhaut, Adam Spies, Adam G. Doneger, Andy Merin, and Gary Gabriel from CushWake. With a sale price of $212,000,000 and a total square footage of 665,592, the property showcases an impressive price per square foot of $318.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $212,000,000
  • Address: 1 & 2 Jericho Plaza
  • Market: Jericho

Mark Meisner, representing The Birch Group, acted as the buyer in this transaction, while DRA Advisors and Onyx Equities served as the sellers. The deal was facilitated by brokers David Bernhaut, Adam Spies, Adam G. Doneger, Andy Merin, and Gary Gabriel from CushWake. The property's noteworthy characteristics include its prime location in Jericho, a substantial total square footage of 665,592, and a remarkable price per square foot of $318.

Players

Adam Doneger
189 deals$50B volume(516) 317-7837
BROKER

Andrew (Andy) Merin
Cushman & Wakefield
35 deals$3.1B volume(310) 387-7087
BROKER

David Bernhaut
Cushman & Wakefield
48 deals$4.2B volume
BROKER

Gary Gabriel
Cushman & Wakefield
56 deals$4.5B volume
BROKER

Adam Spies
Newmark
260 deals$71.4B volume(212) 841-7500
BROKER

Mark Meisner
The Birch Group
11 deals$1.1B volume
BUYER

DRA Advisors
SELLER


Details

SOLD
IMAGE: Adam Spies, Adam G. Doneger, Mark Meisner, Gary Gabriel, David Bernhaut & Andy Merin DATE: 12/31/2021 ADDRESS: 1 & 2 Jericho Plaza MARKET: Jericho ASSET TYPE: Office BUYER: The Birch Group (@TheBirchGroupNY) - Mark Meisner SELLER: DRA Advisors - Onyx Equities BROKERS: David Bernhaut, Adam Spies, Adam G. Doneger, Andy Merin & Gary Gabriel @CushWake SALE PRICE: $212,000,000 SF: 665,592 ~ PPSF: $318

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$11,306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$753,191.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,004,988.16
Annual Debt Service$12,059,857.89