Meadow Partners Acquires Office Building In Chelsea For $170M
218 West 18th Street, Manhattan, New York, NY, USA
$170,000,000
$1,024/SF
Building Size
166,000 SF
Asset Type
Office
Closing
Dec 12, 2021
AI
The office building located at 218 West 18th Street in Chelsea has been sold for $170,000,000. The property, spanning 166,000 square feet, was purchased by Meadow Partners, represented by Jeffrey Kaplan and Tim Yantz. The seller, Columbia Property Trust, was represented by Nelson Mills. The transaction was facilitated by brokers Adam Spies, Adam Doneger, Rachel Humphrey, Doug Harmon, Josh King, and Marcella Fasulo from Cushman & Wakefield.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $170,000,000
- Address: 218 West 18th Street
- Market: Chelsea
Meadow Partners, led by Jeffrey Kaplan and Tim Yantz, successfully acquired the office property at 218 West 18th Street in Chelsea. The sale of the property was facilitated by the brokerage team consisting of Adam Spies, Adam Doneger, Rachel Humphrey, Doug Harmon, Josh King, and Marcella Fasulo from Cushman & Wakefield. Columbia Property Trust, represented by Nelson Mills, served as the seller in the transaction.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93