Hyundai Motor Group Acquires Office Building In New York For $275M
15 Laight Street, New York City, New York 10013, United States
$275,000,000
Building Size
—
Asset Type
Office
Closing
Apr 17, 2023
About this deal
AI
The office building located at 15 Laight Street in New York has been sold for a total price of $275,000,000. The sale took place on February 15, 2023, and involved the buyer, Hyundai Motor Group, and the seller, Vanbarton Group. The transaction was facilitated by the broker, Newmark. This property asset is situated in the New York market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $275,000,000
- Date: February 15, 2023
- Address: 15 Laight Street, New York
- Buyer: Hyundai Motor Group
- Seller: Vanbarton Group
- Broker: Newmark
The sale of this office building marks a significant transaction in the real estate market. It showcases Hyundai Motor Group's investment in the New York office space. The involvement of the seller, Vanbarton Group, and the broker, Newmark, demonstrates the collaboration between different parties in closing this deal.
On the Map
$275,000,000
Office
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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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93