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
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