David Werner Acquires Office Building In Harlem For $60M
317 Malcolm X Boulevard, Manhattan, New York, NY, USA
$60,000,000
$375/SF
Building Size
160,000 SF
Asset Type
Office
Closing
Apr 14, 2021
AI
Located in Harlem, the office building at 317 Lennox Avenue was recently sold in a transaction valued at $60,000,000. The property spans approximately 160,000 square feet, resulting in a price per square foot of $375. The sale was completed on April 15, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $60,000,000
- Address: 317 Lennox Avenue, Harlem
- Market: Harlem
- Buyer: David Werner
- Seller: @BrookfieldProperties
- Brokers: Evan Layne, Brett Siegel & Henry Fox @Newmark
- Square Footage: 160,000
- Price per Square Foot: $375
The sale of 317 Lennox Avenue was facilitated by brokers Evan Layne, Brett Siegel, and Henry Fox from Newmark. The buyer, David Werner, acquired the property from the seller, @BrookfieldProperties.
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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93