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
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