Gorjian Real Estate Group Acquires Office Building On Lexington Avenue In Manhattan For $90M
192 Lexington Ave, New York, NY 10016, USA
$90,000,000
$64/SF
Building Size
1,400,000 SF
Asset Type
Office
Closing
May 14, 2018
AI
The property involved in this closed transaction is an office building located at 192-196 Lexington Avenue in the city of New York, specifically in Manhattan. The transaction took place on May 15, 2018.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $90,000,000
- Size: 140,000 square feet
- Price per Square Foot: $640
The seller of the property was The Gould Estate. The buyer, Gorjian Real Estate Group, was represented by Justin Gorjian. The seller was represented by HFF through their brokers Andrew Scandalios and Graham Stephens.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93