Mori Trust Co., Ltd Acquires 49.9% Stake In 245 Park Avenue From SL Green Realty Corp. For $2B
245 Park Ave, New York, Ny 10029, Usa
$2,000,000,000
Building Size
—
Asset Type
Office
Closing
Jun 26, 2023
About this deal
AI
SL Green Realty Corp., New York City's largest office landlord, has sold a 49.9% stake in 245 Park Avenue to Mori Trust Co., Ltd for a valuation of $2.0 billion. The property is an office asset located at 245 Park Avenue in New York City. This transaction marks an important investment for Mori Trust Co., Ltd, a Tokyo-based development and investment company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,000,000,000
- Buyer: Affiliate of Mori Trust Co., Ltd
- Seller: SL Green Realty Corp
- Market: New York City
Mori Trust Co., Ltd, represented by their affiliate, acted as the buyer in this deal. On the other hand, SL Green Realty Corp served as the seller. This sale is a significant move for both parties involved, as it represents a substantial investment in the New York City office market.
On the Map
$2,000,000,000
Office
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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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93