Brodsky Acquires Office Building In Flatiron District For $161M
175 5th Avenue
$161,000,000
$914/SF
Building Size
176,000 SF
Asset Type
Office
Closing
Oct 26, 2023
About this deal
AI
The property involved in this transaction is an office space located at 175 5th Avenue in the Flatiron District. The sale price for this property was $161,000,000, with a total square footage of 176,000. The price per square foot was $915. The sellers of the property were GFP Real Estate, The Sorgente Group, ABS Partners Real Estate, and Nathan Silverstein. The buyers were Brodsky. The deal was brokered by Adam Spies, Douglas Harmon, Adam Doneger, Joshua King, Marcella Fasulo, Monica Brendsel, and Michael J Collins from Newmark.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $161,000,000
- Square Footage: 176,000
- Price Per Square Foot: $915
- Address: 175 5th Avenue
- Market: Flatiron District
The transaction involved multiple parties, with GFP Real Estate, The Sorgente Group, ABS Partners Real Estate, and Nathan Silverstein acting as the sellers. On the buyer's side, Brodsky acquired the property. The deal was facilitated by the brokers Adam Spies, Douglas Harmon, Adam Doneger, Joshua King, Marcella Fasulo, Monica Brendsel, and Michael J Collins, all from Newmark.
On the Map
$161,000,000
$914/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Monica Brendsel to view all their deals.
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93