Takenaka Acquires Office Asset From Nippon Club In Manhattan For $30 Million
SOLD
$30,000,000
New York
See Similar DealsOffice72,000 SF
Sold 07/14/2024
SOLD
Takenaka Acquires Office Asset From Nippon Club In Manhattan For $30 Million
145 West 57th Street
See Similar DealsOffice72,000 SF
Sold 07/14/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$416
Total Square Footage:72,000 SF
Transaction Type:Sale
The property asset involved in the transaction is located at 145 West 57th Street in Manhattan. It is categorized as an office asset with a total square footage of 72,000. The transaction was executed for a sale price of $30,000,000, translating to a price per square foot of $417.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $30,000,000
- Address: 145 West 57th Street
- Market: Manhattan
- Square Footage: 72,000
- Price Per Square Foot: $417
- Buyer: Takenaka
- Seller: Nippon Club
- Broker Representatives: Brett Siegel & Evan Layne - Newmark
Brett Siegel and Evan Layne represented the brokerage firm Newmark in this transaction. The involvement of Takenaka as the buyer and Nippon Club as the seller highlights the key players on either side of this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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