New York University Acquires Office Building In Downtown Brooklyn For $122M
3 Metrotech Ctr, Brooklyn, NY 11201
$122,000,000
$266/SF
Building Size
457,966 SF
Asset Type
Office
Closing
Aug 30, 2022
About this deal
AI
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.
The office sale at 3 Metrotech Ctr, Brooklyn, NY 11201 in New York, New York sold for $122M in 2022. The building is 457,966 square feet, implying about 266 per square foot on the published price. This page is the New York, New York file for the 3 Metrotech Ctr, Brooklyn, NY 11201 office sold: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else sold near 3 Metrotech Ctr, Brooklyn, NY 11201 around 2022. Published consideration for 3 Metrotech Ctr, Brooklyn, NY 11201 is $122M, dated 2022. Cite this New York University Acquires Office Building In Downtown Brooklyn For $122M sale when underwriting similar office product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93