GFP, Rockwood, And Metroloft Acquire 25 Water Street Office In Manhattan For $250M
25 Water Street
$250,000,000
$227/SF
Building Size
1,100,000 SF
Asset Type
Office
Closing
Nov 1, 2022
About this deal
AI
The office building located at 25 Water Street in Manhattan has been sold in a recent transaction. The property spans a total area of 1,100,000 square feet and was sold for a price of $250,000,000, resulting in a price-per-square-foot of $227. The sale was facilitated by brokers Brett Siegel and Evan Layne from Newmark.
Summary of transation details
- Property Type: Office
- Transaction Amount: $250,000,000
- Address: 25 Water Street, Manhattan
- Market: Manhattan
- Buyer: GFP - Brian Steinwurtzel, Rockwood - David Becker & Metroloft - Nathan Berman
- Seller: Edge Funds - Mark Keller
- Brokers: Brett Siegel & Evan Layne - Newmark
The buyer consortium consists of GFP represented by Brian Steinwurtzel, Rockwood represented by David Becker, and Metroloft represented by Nathan Berman. The seller, Edge Funds, was represented by Mark Keller. This transaction involved significant parties who played a crucial role in the deal.
On the Map
$250,000,000
$227/SF
Office
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Players
Elizabethtown Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93