TPG And Sagehall Partners Acquire Office Asset From Orda Management For $350 Million In Manhattan
225 Park Avenue South
$350,000,000
$518/SF
Building Size
675,000 SF
Asset Type
Office
Closing
May 19, 2025
About this deal
AI
The asset involved in this transaction is an office property located at 225 Park Avenue South in the Manhattan market. The sale price for this property was $350,000,000. The total square footage of the asset is 700,000, resulting in a price per square foot of $500.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $350,000,000
- Address: 225 Park Avenue South
- Market: Manhattan
- Square Footage: 700,000
- Price per Square Foot: $500
- Buyer: TPG / Sagehall Partners
- Seller: Orda Management
- Buyer & Seller's Representatives: Adam Spies, Adam Doneger, Douglas Harmon, Joshua King, Avery Silverstein & Marcella Fasulo - Newmark
This transaction is representative of the collaboration between the buyer TPG / Sagehall Partners and the seller Orda Management, facilitated by a team of representatives from Newmark, including Adam Spies, Adam Doneger, Douglas Harmon, Joshua King, Avery Silverstein, and Marcella Fasulo.
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93