Partners Group Acquires @TheFactoryLIC Office & Retail Property In LIC For $400M
30-30 47th Ave, Long Island City, NY 11101, USA & 30-30 47th Ave, Long Island City, NY 11101, USA
$400,000,000
$357/SF
Building Size
1,119,600 SF
Asset Type
Office
Closing
Apr 17, 2018
AI
The property known as @TheFactoryLIC, located at 30-30 47th Avenue in New York's LIC market, has been sold in a closed transaction. The property consists of office and retail space and spans 150,000 square feet. The sale price for this asset was $400,000,000, resulting in a price per square foot of $2,666.
Summary of transaction details
- Property Type: Office & Retail
- Transaction Amount: $400,000,000
- Address: 30-30 47th Avenue, New York
- Market: LIC
The seller of the property was Square Mile Capital, represented by Craig H. Solomon. The buyer, Partners Group, was represented by André Frei and Christoph Rubeli.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93