facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Office

/

Sale

/

24 W 25th St, Manhattan, Ne...

Savanna Acquires Office Building In Flatiron For $110M From Unizo Holdings
SOLDOffice

Savanna Acquires Office Building In Flatiron For $110M From Unizo Holdings

24 W 25th St, Manhattan, New York, NY, USA

$110,000,000

$823/SF

Building Size

133,561 SF

Asset Type

Office

Closing

Apr 29, 2019

AI

Located in the Flatiron district, the office property at 24-28 W 25th St is currently in contract for sale. The property spans over 133,561 square feet and boasts a price per square foot of $823. The transaction is being facilitated by Eastdil Secured's Brett Siegel, Evan Layne, and Rachel Humphrey, who represent the seller, Unizo Holdings. On the buyer's side is Savanna.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $110,000,000
  • Address: 24-28 W 25th St
  • Market: Flatiron
  • Square Feet: 133,561
  • Price per Square Foot: $823

This in-contract sale is an important deal within the Flatiron market. Christopher Schlank's image on Instagram showcases the property and highlights the significance of the transaction.

Players

Brett Siegel

Newmark

Broker

$6.4B

vol

76 deals

Broker
KR
KBS Strategic Opportunity REITBuyer
UH
Unizo HoldingsSeller

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

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93