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
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.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93