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111 Wall St, New York, NY 1...

Nightingale Properties & Wafra Capital Acquire Office Building At 111 Wall St. In FiDi For $175M
SOLDOffice

Nightingale Properties & Wafra Capital Acquire Office Building At 111 Wall St. In FiDi For $175M

111 Wall St, New York, NY 10005, USA

$570,000,000

$57/SF

Building Size

9,902,500 SF

Asset Type

Office

Closing

Oct 2, 2019

AI

The office property located at 111 Wall St. in the Financial District (FiDi) has been sold in a closed transaction. The property spans a total square footage of 990,250 and was sold for a price of $175,000,000, resulting in a price per square foot of $176. The property was acquired by Nightingale Properties and Wafra Capital, while the seller was Zurich Insurance Group.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $175,000,000
  • Square Footage: 990,250
  • Price per Square Foot: $176
  • Address: 111 Wall St.
  • Market: FiDi

The sale transaction was facilitated by the brokers from Newmark Knight Frank, namely Evan Layne and Brett Siegel. They represented the parties involved in the deal but are not the buyers, sellers, landlords, or tenants themselves.

Players

Brett Siegel

Newmark

Broker

$6.4B

vol

82 deals

Broker
NP
Nightingale PropertiesBuyer
ZG
Zurich Insurance GroupSeller

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.03%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93