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40 E 34th St, New York, NY ...

APF Properties Acquires Office Building On Madison Avenue In Manhattan For $225M
SOLDOffice

APF Properties Acquires Office Building On Madison Avenue In Manhattan For $225M

40 E 34th St, New York, NY 10016, USA

Building Size

2,740,000 SF

Asset Type

Office

Closing

May 7, 2018

AI

The property involved in this transaction is located at 183 Madison Avenue in Manhattan. It is an office asset with a total square footage of 274,000 sf. The transaction took place on 05/08/2018, with a selling price of $225,000,000 and a price per square foot of $820.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $225,000,000
  • Square Footage: 274,000 sf
  • Address: 183 Madison Avenue, New York
  • Market: Manhattan

Tishman Speyer, represented by Rob Speyer, and Cogswell Realty, represented by Arthur Stern and Eric Sarner, were the sellers in this transaction. The buyer was APF Properties. Unfortunately, no additional information about the buyer or their representatives was available.

Players

William Shanahan

CBRE

Broker

$6.4B

vol

20 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93