Zar Properties Acquires Office W/ Retail Property On 250 West 54th Street, Manhattan For $83M
1700 Broadway, New York, NY 10019, USA
Building Size
626,000 SF
Asset Type
Office
Closing
Jan 21, 2018
About this deal
AI
The property located at 250 West 54th Street in New York City has been sold in February 2017. This property is an office space with retail amenities and is situated in the Manhattan market. The transaction was closed at a price of $83 million, equivalent to $509 per square foot. The seller of the property was Ascot Properties, while the buyer was Zar Properties.
Summary of transaction details
- Property Type: Office w/ retail
- Transaction Amount: $83 Million
- Address: 250 West 54th Street, New York
- Market: Manhattan
Ascot Properties represented the seller in this deal, while Zar Properties acted as the buyer's representative.
On the Map
Office
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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