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110 East 42nd Street, New Y...

Meadow Partners Acquires Office Building On East 42nd Street For $117.1M
SOLDOffice

Meadow Partners Acquires Office Building On East 42nd Street For $117.1M

110 East 42nd Street, New York, NY, USA

$117,075,000

$525/SF

Building Size

222,935 SF

Asset Type

Office

Closing

Dec 6, 2021

AI

An office property located at 110 East 42nd Street in Grand Central ๐Ÿš‚ has been sold. The transaction took place on 12/06/2021. The property, spanning 222,935 square feet, was sold by @SLGreen_Realty to Meadow Partners, represented by Jeffrey Kaplan. The deal was facilitated by brokers Brett Siegel and Evan Layne from Newmark. The sale price for the property was $117,075,000, resulting in a price per square foot of $525.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $117,075,000
  • Address: 110 East 42nd Street
  • Market: Grand Central ๐Ÿš‚

Jeffrey Kaplan, on behalf of Meadow Partners, acquired the office property located at 110 East 42nd Street in Grand Central ๐Ÿš‚ for a price of $117,075,000. The property spans 222,935 square feet and was sold by @SLGreen_Realty. The transaction was facilitated by brokers Brett Siegel and Evan Layne from Newmark.

Players

Brett Siegel

Newmark

Broker

$6.4B

vol

82 deals

Broker
Jeffrey M. Kaplan

Jeffrey M. Kaplan

Meadow Partners

Buyer

$921.4M

vol

9 deals

Buyer
SL Green
SL GreenSeller
Meadow Partners
Meadow PartnersLender

New York Office Market Snapshot

Boundary boundary ยท Office ยท Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93