Madison Capital Acquires Soho Office Property For $206 Million
130 Prince St, New York, NY 10012, USA
$206,000,000
$2,340/SF
Building Size
88,000 SF
Asset Type
Office
Closing
Jul 29, 2019
About this deal
AI
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
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93