Newmark Brokers Facilitate $92.5M Sale Of Midtown Manhattan Office Building To GDS And Sabal Investment Holdings
146 West 57th Street
$92,500,000
$351/SF
Building Size
263,273 SF
Asset Type
Office
Closing
Nov 17, 2023
About this deal
AI
The office building located at 146 West 57th Street in Midtown Manhattan has been sold in a transaction. The property spans 263,273 square feet and was sold for a price of $92,500,000, resulting in a price per square foot of $351.
Summary of transation details
- Property Type: Office
- Transaction Amount: $92,500,000
- Address: 146 West 57th Street
- Market: Midtown Manhattan
The buyers involved in this transaction are Alan Rudikoff from GDS, and Michael Kirschmann and Tal Seder from Sabal Investment Holdings. The seller is Jochen Klosges from Aareal Bank.
The deal was facilitated by brokers Dustin Stolly, Jordan Roeschlaub, Adam Spies, Christopher Kramer, Adam Doneger, and Evan Layne from Newmark.
On the Map
$92,500,000
$351/SF
Office
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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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93