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45 W 45th St, New York, NY ...

Updated Oct 29, 2024

Savanna Acquires Berkeley Building In Manhattan For $195M With Colliers As The Broker
SOLDOffice

Savanna Acquires Berkeley Building In Manhattan For $195M With Colliers As The Broker

45 W 45th St, New York, NY 10036, USA

$126,000,000

$134,042/SF

Building Size

940 SF

Asset Type

Office

Closing

Jul 2, 2019

About this deal

AI

The Berkeley Building, located at 19-25 W 44th Street in Manhattan, New York, was recently sold for a price of $195,000,000. The office building spans a total area of 293,000 square feet, resulting in a per square foot price of $660.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $195,000,000
  • Building Name: Berkeley Building
  • Address: 19-25 W 44th Street
  • City: New York
  • Market: Manhattan
  • Square Footage: 293,000
  • Square Footage Price: $660

The seller of the Berkeley Building was Deka Immobilien, while the buyer was Savanna. The deal was facilitated by Richard Baxter and Robert Stamm of Colliers International.

It is worth noting that Deka Immobilien acquired the property from SLGreen in 2010 for $123.2 million.

On the Map

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$126,000,000

$134,042/SF

Office

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Players

Ariel Tambor

DH Property Holdings

Broker

$342.2M

vol

6 deals

Broker
KR
KBS Strategic Opportunity REITBuyer
DI
Deka ImmobilienSeller
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New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $134K per square foot on a published $126M for 940 square feet (2019).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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