State Acquires 20% Stake In 10 Hudson Yards Office Building For $431.9M
10 Hudson Yards, 347 10th Ave 24th floor, New York, NY 10001, USA
Building Size
10,000,070 SF
Asset Type
Office
Closing
Apr 17, 2018
About this deal
AI
10 Hudson Yards, an office property located in New York, was recently sold in a closed transaction. The property spans 1.7 million square feet and is part of the @_hudsonyardsnyc market. The sale price for this asset was $431,900,000, which represents 20% of the overall project.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $431,900,000
- Square Footage: 1.7 million square feet
- Address: 10 Hudson Yards, New York
- Market: @_hudsonyardsnyc
The sellers of 10 Hudson Yards were Related Companies, represented by Stephen M. Ross and Jeffrey T. Blau, along with Oxford Properties Group, represented by Blake Hutcheson. The buyers of the property were The State [...].
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93