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
969,600 SF
Asset Type
Office
Closing
Apr 17, 2018
About this deal
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.
On the Map
$400,000,000
$357/SF
Office
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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