Daily limit: 0/10
Jamie Dimon And Christopher McKenna Of JPMorgan Chase Acquire Office Building For $320.2M
SOLD
$320,200,000
New York
See Similar DealsOffice519,783 SF
Sold 08/15/2024
SOLD
Jamie Dimon And Christopher McKenna Of JPMorgan Chase Acquire Office Building For $320.2M
250 Park Avenue
See Similar DealsOffice519,783 SF
Sold 08/15/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$616
Total Square Footage:519,783 SF
Transaction Type:Sale
The office building located at 250 Park Avenue in Midtown East, Manhattan, has been sold for $320,200,000. The property spans a total of 519,783 square feet, translating to a price per square foot of $616.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $320,200,000
- Address: 250 Park Avenue
- Market: Midtown East, Manhattan
- Buyer: Jamie Dimon and Christopher McKenna - JPMorgan Chase & Jeffrey C. Hines - Hines
- Seller: Jonathan Martin & Patrick McLaughlin - AEW Capital Management
- Brokers: Adam Spies & Douglas Harmon - Newmark
This transaction involved JPMorgan Chase and Hines acquiring the property from AEW Capital Management through a special entity, 250 Park Avenue, LLC.
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$17,077,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,137,602.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,517,911.36
Annual Debt Service$18,214,936.30
Is there something missing? Send suggestions