SOLDOffice
Northwood Investors Acquires 384,000 Sf Office Building In Manhattan For $300M
1180 6th Ave, New York, NY 10036, USA
Building Size
384,000 SF
Asset Type
Office
Closing
Nov 28, 2020
About this deal
AI
A 384,000 square foot office building located at 1180 Sixth Avenue in Manhattan has been sold for $300,000,000. The price per square foot for the property was $781.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $300,000,000
- Address: 1180 Sixth Avenue, New York
- Market: Manhattan
The sellers of the property were HNA Group represented by Chen Feng, and MHP Real Estate Services represented by Norman Sturner and David Sturner. The buyer of the property was Northwood Investors, represented by John Kukral.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93