Nathan Berman's Metro Loft Management Acquires 175 Water St Office Building For $270M
175 Water Street
$270,000,000
$394/SF
Building Size
684,000 SF
Asset Type
Office
Closing
Aug 16, 2019
AI
Nathan Berman's Metro Loft Management has acquired an office property located at 175 Water St in the Financial District (Fidi) market. The property spans over an area of 684,000 square feet and was sold by AIG for a total price of $270,000,000, translating to a price per square foot of $395.
Summary of transation details
- Property Type: Office
- Transaction Amount: $270,000,000
- Square Footage: 684,000
- Price per Square Foot: $395
- Address: 175 Water St
- Market: Fidi
The deal was facilitated by the brokers Gary Phillips, Will Silverman, and Jeff Organisciak.
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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93