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
About this deal
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
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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