ELO Organization Acquires Office Building In Midtown For $115M
15 W 47th St, New York, NY 10036, USA
$115,000,000
$952/SF
Building Size
120,790 SF
Asset Type
Office
Closing
Feb 18, 2020
AI
ELO Organization has acquired an office property located at 15 West 47th Street in Midtown for a price of $115,000,000. The asset spans a total area of 120,790 square feet, translating to a price per square foot of $952.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $115,000,000
- Date: 02/19/2020
- Address: 15 West 47th Street
- Market: Midtown
The deal was brokered by Avi Ben-Ishay, representing both the buyer, ELO Organization, and the seller, Eli and Isaac Chetrit & Sioni Group.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93