Columbia Property Trust Sells Office Building On Madison Avenue For $77M
149 Madison Avenue
$77,000,000
$601/SF
Building Size
128,000 SF
Asset Type
Office
Closing
Feb 6, 2023
About this deal
AI
The office property located at 149 Madison Avenue in New York City has been sold for a transaction amount of $77,000,000. Spanning across 128,000 square feet, this asset was purchased at a price per square foot of $602. The seller of the property is Columbia Property Trust, represented by Adam Frazier, while the buyer's representatives from KSR are Albert Sultan and Ike Bibi. The seller was represented by Brett Siegel and Evan Layne from Newmark.
Summary of transation details
- Property Type: Office
- Transaction Amount: $77,000,000
- Address: 149 Madison Avenue
- Market: New York City
- Square Footage: 128,000
- Price per Square Foot: $602
Albert Sultan and Ike Bibi from KSR facilitated the purchase of the office property, while Brett Siegel and Evan Layne from Newmark represented Columbia Property Trust in this transaction.
Players
Market 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93