Savanna Acquires 1065 6th Ave From Blackstone Group For $640 Million In New York
SOLD
$640,000,000
New York
See Similar DealsOffice682,988 SF
Sold 05/23/2018
SOLD
Savanna Acquires 1065 6th Ave From Blackstone Group For $640 Million In New York
1065 6th Ave, New York, NY, 10018
See Similar DealsOffice682,988 SF
Sold 05/23/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$937
Total Square Footage:682,988 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$34,133,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,273,784.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,033,926.51
Annual Debt Service$36,407,118.15
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