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
About this deal
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.
On the Map
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
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