Columbia Property Trust Acquires Office Building In New York For $314.7M
249 W 17th St, New York, NY 10011, USA
Building Size
17,790 SF
Asset Type
Office
Closing
Sep 30, 2017
About this deal
AI
The office property located at 245-249 West 17th Street in New York City has been sold in a closed transaction. The property is situated in Manhattan and was previously occupied by TWITTER HQ. The office asset was sold for a price of $314,671,772.70.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $314,671,772.70
- Address: 245-249 West 17th Street
- City: New York
- Market: Manhattan
The seller of the property was NY REIT, while the buyer was Columbia Property Trust. The transaction was facilitated by the brokerage firm Cushman & Wakefield (@cushwake).
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