IStar Acquires Office Building In Financial District For $90.5M
32 Old Slip, Manhattan, New York, NY, USA
$90,518,795
$93/SF
Building Size
973,422 SF
Asset Type
Office
Closing
Jun 25, 2020
About this deal
AI
The property involved in this transaction is an office space located at 32 Old Slip in the Financial District. The office space spans a total of 973,422 square feet. The sale price for this property was $90,518,795.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $90,518,795
The buyer in this transaction was iStar, represented by Jay Sugarman. The seller was Melohn Properties, represented by Leon Melohn. The landlord of this property is @RXR_Realty.
The office sale at 32 Old Slip, Manhattan, New York, NY, USA in New York, New York sold for $90.5M in 2020. The building is 973,422 square feet, implying about 93 per square foot on the published price. Jay Sugarman, RXR Realty appear on the sale alongside RXR Realty. This page is the New York, New York file for the 32 Old Slip, Manhattan, New York, NY, USA 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 32 Old Slip, Manhattan, New York, NY, USA around 2020. Published consideration for 32 Old Slip, Manhattan, New York, NY, USA is $90.5M, dated 2020. Cite this IStar Acquires Office Building In Financial District For $90.5M 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93