Clarion Partners Acquires Property From EQ Office At 114 W 41st St For $282M
114 W 41st St, New York, NY, 10036
$282,000,000
$807/SF
Building Size
349,274 SF
Asset Type
Office
Closing
Dec 13, 2018
AI
The property asset involved in this transaction is located at 114 W 41st St, New York, NY, 10036. The asset was sold for a total transaction amount of $282,000,000.00 and encompasses a total square footage of 349,274. This deal took place in the New York market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $282,000,000.00
- Address: 114 W 41st St, New York, NY, 10036
- Market: New York
- Seller: EQ Office
- Buyer: Clarion Partners
- Seller's Representative: John Mundell
- Agency: Marcus & Millichap
The deal involved EQ Office as the seller, with Clarion Partners acquiring the property. John Mundell represented the seller in this transaction through Marcus & Millichap, facilitating the deal's closing.
Players
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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93