facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Sale

/

218 West 18th Street, Manha...

Meadow Partners Acquires Office Building In Chelsea For $170M
SOLDOffice

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

Adam Doneger

Newmark

Broker

$50.1B

vol

190 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$71.7B

vol

263 deals

Broker
Jeffrey M. Kaplan

Jeffrey M. Kaplan

Meadow Partners

Buyer

$921.4M

vol

9 deals

Buyer

Nelson Mills

Columbia Property Trust

Seller

$409M

vol

2 deals

Seller
Meadow Partners
Meadow PartnersLender

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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