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1825 Park Avenue

Matthew Coleman Acquires Office Space At 1825 Park Avenue In Manhattan For $56.2M
SOLDOffice

Matthew Coleman Acquires Office Space At 1825 Park Avenue In Manhattan For $56.2M

1825 Park Avenue

$56,226,159

$499/SF

Building Size

112,500 SF

Asset Type

Office

Closing

Dec 15, 2023

AI

Matthew Coleman has purchased an office space located at 1825 Park Avenue in the Park Avenue market of Manhattan. The property has a total square footage of 112,500 square feet with a price per square foot of $500. The transaction was closed on December 15, 2023, with a total price of $56,226,159. Nicholas Bienstock acted as the seller in this deal.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $56,226,159
  • Address: 1825 Park Avenue
  • Market: Park Avenue, Manhattan
  • Buyer: Matthew Coleman
  • Seller: Nicholas Bienstock

This transaction highlights Matthew Coleman's acquisition of an office space in the Park Avenue market of Manhattan. The deal was successfully closed, with Nicholas Bienstock representing the seller. The purchase price for the property was $56,226,159, and the total square footage of the office building is 112,500 square feet.

Players

Matthew Coleman

Buyer

$101.5M

vol

2 deals

Buyer

Nickolas Beinstock

Seller

$281.8M

vol

5 deals

Seller

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

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93