facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Sale

/

229 W 36th St, New York, NY...

Brickman Associates Acquires Office Property At 229 W 36th Street, New York From NY Reit For $84.2M
SOLDOffice

Brickman Associates Acquires Office Property At 229 W 36th Street, New York From NY Reit For $84.2M

229 W 36th St, New York, NY 10018, USA

Building Size

11,406 SF

Asset Type

Office

Closing

Oct 16, 2017

AI

New York's Manhattan market recently saw a significant office transaction take place at 229 W 36th Street. The property, valued at $84,248,060.30, was sold by NY Reit to Brickman Associates. The deal was facilitated by Cushman & Wakefield, who represented both parties involved in the transaction.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $84,248,060.30
  • Address: 229 W 36th Street, New York
  • Market: Manhattan

This transaction highlights the active real estate market in Manhattan. NY Reit sold the office property to Brickman Associates, with Cushman & Wakefield serving as the broker representing both sides. The deal showcases the continued demand for office space in the bustling city.

Players

BA
Brickman AssociatesBuyer
NR
NY ReitSeller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93