Mack Real Estate Group Acquires Brill Building In Midtown West, Manhattan For $216.1M
1619 Broadway New York, NY 10019, USA
$216,103,378
$1,366/SF
Building Size
158,150 SF
Asset Type
Office
Closing
Jun 30, 2023
About this deal
AI
The Mack Real Estate Group has acquired the Brill Building, a retail and office property located at 1619 Broadway in Midtown West, Manhattan. The property spans 158,150 square feet and was purchased from Brookfield Asset Management for a total of $216.1 million.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $216,103,378
- Address: 1619 Broadway
- Market: Midtown West, Manhattan
- Buyer: Mack Real Estate Group
- Seller: Brookfield Asset Management
- Square Footage: 158,150
- Price per Square Foot: $1,366
Mack Real Estate Group made the acquisition of the Brill Building, marking their entrance into the Midtown West, Manhattan market. This move strengthens their presence and diversifies their portfolio in the area.
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93