Ryan Tedder Of One Republic Acquires Office Building In Chinatown For $40.5M
168 Canal Street
$40,500,000
$1,032/SF
Building Size
39,224 SF
Asset Type
Office
Closing
Mar 24, 2026
AI
A 39,224-square-foot office building located at 168 Canal Street in Manhattan's Chinatown has been sold for $40.5 million. The specific sale price translates to approximately $1,033 per square foot, reflecting the value of the specialized asset in the current market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40,500,000
- Address: 168 Canal Street
- Market: Chinatown, Manhattan
- Buyer: Ryan Tedder - One Republic
- Seller: Robert Bellinger - ASB Real Estate Investments
- Square Footage: 39,224
- Price per Square Foot: $1,033
Ryan Tedder acted as the buyer in the transaction, representing One Republic, while Robert Bellinger represented ASB Real Estate Investments as the seller. This deal illustrates the exchange between established entities within the commercial real estate sector.
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
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93