Takenaka Acquires Office Asset From Nippon Club In Manhattan For $30 Million
145 West 57th Street
$30,000,000
$416/SF
Building Size
72,000 SF
Asset Type
Office
Closing
Jul 14, 2024
About this deal
AI
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.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93