facebook
Traded Co logo
Submit
Daily limit: 0/10

Cyrus Sakhai's Sovereign Partners Acquires Office Condo At 100 5th Avenue In Flatiron District For $126.5M

Property Image
SOLD
$126,500,000
CS
JG

New York

See Similar Deals
Office224,260 SF
Sold 10/23/2023
the dealplayerscompscontact
Property Image
SOLD

Cyrus Sakhai's Sovereign Partners Acquires Office Condo At 100 5th Avenue In Flatiron District For $126.5M

100 5th Avenue

See Similar Deals
Office224,260 SF
Sold 10/23/2023
CS
JG
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$564
Total Square Footage:224,260 SF
Transaction Type:Sale

Sovereign Partners, through the entity 100 Fifth Owners, LLC, acquired the office condominium unit at 100 Fifth Avenue in Manhattan's Flatiron District for $126.5 million. The property is located in the Flatiron District, one of Manhattan's premier markets. The office unit spans 224,260 square feet, with a price per square foot of $564.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $126,500,000
  • Address: 100 5th Avenue, Flatiron District, Manhattan
  • Buyer: Cyrus Sakhai - Sovereign Partners
  • Seller: Jonathan Gelb - Clarion Partners

Cyrus Sakhai, representing Sovereign Partners, and Jonathan Gelb, representing Clarion Partners, were the key individuals involved in the deal. Sovereign Partners is a prominent buyer in the real estate market, while Jonathan Gelb is a representative of Clarion Partners. This acquisition marks a significant transaction in the Flatiron District, highlighting the continued demand for office space in prime Manhattan locations.

Players

CS
Cyrus Sakhai
4 deals$363M volume
BUYER
JG
Clarion Partners
Jonathan Gelb
2 deals$253M volume
SELLER
Clarion Partners
Clarion Partners
LENDER

Details

SOLD
IMAGE: Jonathan Gelb DATE: 10/23/2023 ADDRESS: 100 5th Avenue MARKET: Flatiron District, Manhattan ASSET TYPE: Office BUYER: Cyrus Sakhai - Sovereign Partners SELLER: Jonathan Gelb - Clarion Partners SALE PRICE: $126,500,000 SF: 224,260 ~ PPSF: $564 NOTE: Sovereign Partners, through the entity 100 Fifth Owners, LLC, acquired the office condominium unit at 100 Fifth Avenue in Manhattan's Flatiron District for $126.5 million.

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)

$6,746,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$449,427.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$599,674.54
Annual Debt Service$7,196,094.45