ELO Organization Acquires Office Building In Midtown For $115M
SOLD
$115,000,000
New York
See Similar DealsOffice120,790 SF
Sold 02/19/2020
SOLD
ELO Organization Acquires Office Building In Midtown For $115M
15 W 47th St, New York, NY 10036, USA
See Similar DealsOffice120,790 SF
Sold 02/19/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$952
Total Square Footage:120,790 SF
Transaction Type:Sale
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
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$408,570.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$545,158.67
Annual Debt Service$6,541,904.04
Is there something missing? Send suggestions