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DWS Acquires Office At 222 Broadway In Financial District For $150M

Property Image
SOLD
$150,000,000
Rachel Humphrey
Joshua King
+ 2

New York

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Office777,570 SF
Sold 04/18/2024
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Property Image
SOLD

DWS Acquires Office At 222 Broadway In Financial District For $150M

222 Broadway

See Similar Deals
Office777,570 SF
Sold 04/18/2024
Rachel Humphrey
Joshua King
+ 2
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$192
Total Square Footage:777,570 SF
Transaction Type:Sale

The property involved in this transaction is an office located at 222 Broadway in the Financial District of Manhattan. The sale occurred on 04/18/2024, with DWS acquiring the property from GFP & TPG Capital for $150,000,000. The office spans 777,570 square feet with a price per square foot of $193.

Summary of transaction details:

The transaction was facilitated by brokers Adam Spies, Joshua King, Adam Doneger, Rachel Humphrey, and Meaghan Philbin from Newmark, who played a crucial role in connecting the buyer and the sellers, ensuring a successful completion of the deal.

Players

Adam Doneger
190 deals$50.2B volume(516) 317-7837
BROKER

Adam Spies
Newmark
263 deals$71.8B volume(212) 841-7500
BROKER

Joshua King
Newmark
115 deals$32.8B volume(212) 850-5427
BROKER

Rachel Humphrey
CBRE
12 deals$4.3B volume
BROKER

Meaghan Philbin
Newmark
11 deals$1.9B volume
BROKER

Details

SOLD
IMAGE: Adam Doneger, Rachel Humphrey, Adam Spies, Meaghan Philbin & Joshua King DATE: 04/18/2024 ADDRESS: 222 Broadway MARKET: Financial District, Manhattan ASSET TYPE: Office BUYER: DWS SELLER: GFP & TPG Capital BROKERS: Adam Spies, Joshua King (@JoshAdamKing) & Adam Doneger (@ADoneger), Rachel Humphrey & Meaghan Philbin - Newmark (@Newmark) SALE PRICE: $150,000,000 SF: 777,570 ~ PPSF: $193

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,999,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32