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1065 6th Ave, New York, NY,...

Savanna Acquires 1065 6th Ave From Blackstone Group For $640 Million In New York
SOLDOffice

Savanna Acquires 1065 6th Ave From Blackstone Group For $640 Million In New York

1065 6th Ave, New York, NY, 10018

$640,000,000

$937/SF

Building Size

682,988 SF

Asset Type

Office

Closing

May 23, 2018

AI

The property asset involved in the transaction is located at 1065 6th Ave, New York, NY, with a total square footage of 682,988. The transaction was conducted in the New York market for a price of $640,000,000.00.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $640,000,000.00
  • Address: 1065 6th Ave, New York, NY, 10018
  • Market: New York
  • Seller: Blackstone Group
  • Buyer: Savanna
  • Seller's Representative: Graham Stephens

The deal involved key individuals and companies including the well-known Blackstone Group selling the property to Savanna, with Graham Stephens representing the seller in this transaction.

Players

Graham Stephens

Broker

$2.7B

vol

10 deals

Broker
KR
KBS Strategic Opportunity REITBuyer

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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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