New York University Acquires Office Building In Downtown Brooklyn For $122M
SOLD
$122,000,000
New York
See Similar DealsOffice457,966 SF
Sold 08/31/2022
SOLD
New York University Acquires Office Building In Downtown Brooklyn For $122M
3 Metrotech Ctr, Brooklyn, NY 11201
See Similar DealsOffice457,966 SF
Sold 08/31/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$266
Total Square Footage:457,966 SF
Transaction Type:Sale
The property involved in this transaction is an office located at 3 Metrotech Center in Downtown, Brooklyn. The sale took place on August 31, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $122,000,000
- Square Footage: 457,966
- Price per Square Foot: $266
- Address: 3 Metrotech Center
- Market: Downtown, Brooklyn
The buyer in this transaction was New York University, represented by Martin S. Dorph. The seller was JPMorgan Chase, represented by Christopher McKenna.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,506,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$433,440.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$578,342.24
Annual Debt Service$6,940,106.90
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