Wells Fargo Acquires Office At 25 West 45th Street From APF Properties For $45.1M
25 West 45th Street
$45,100,000
$225/SF
Building Size
200,000 SF
Asset Type
Office
Closing
Feb 5, 2026
About this deal
AI
The property asset involved in this transaction is an office located at 25 West 45th Street in Manhattan. The property encompasses a total area of 200,000 square feet and was sold for $45,100,000, equating to a price per square foot of $226.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $45,100,000
- Buyer: Wells Fargo
- Seller: Berndt Perl & Kenneth Aschendorf - APF Properties
- Market: Manhattan
- Square Footage: 200,000
- Price per Square Foot: $226
This transaction occurred at a foreclosure auction after the seller defaulted on a $75 million mortgage, which was compounded by a 40% vacancy rate and the fallout from WeWork's impact on the market.
On the Map
$45,100,000
$225/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93