Madison Capital Acquires Soho Office Property For $206 Million
SOLD
$206,000,000
New York
See Similar DealsOffice88,000 SF
Sold 07/30/2019
SOLD
Madison Capital Acquires Soho Office Property For $206 Million
130 Prince St, New York, NY 10012, USA
See Similar DealsOffice88,000 SF
Sold 07/30/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$2,340
Total Square Footage:88,000 SF
Transaction Type:Sale
The office building located at 130 Prince Street in Soho has been sold in a closed transaction. The property spans 88,000 square feet and was sold for a total price of $206,000,000, with a price per square foot of $2,340.
Summary of transaction details
- Asset Type: Office
- Address: 130 Prince Street
- Market: Soho
- Price: $206,000,000
- Square Footage: 88,000
- Price per Square Foot: $2,340
The buyer of the property was Madison Capital, while the seller was Invesco. Representing the deal were Evan Layne and Brett Siegel from Eastdil Secured.
It's worth noting that Invesco originally purchased the property in 2012 for $140.5 million.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,986,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$731,874.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$976,545.10
Annual Debt Service$11,718,541.16
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