Brookfield Prop Prtnrs Acquires Fmr Robert Hall Building In Manhattan For $255M
333 W 34th St, New York, NY 10001, USA
Building Size
31,818 SF
Asset Type
Office
Closing
Nov 16, 2017
About this deal
AI
The fmr Robert Hall Building, located at 333 W 34th Street in Manhattan, has been sold in a closed transaction. The office property, comprising 51% ownership, was acquired for a price of $255,000,000. The seller of the property was NY Reit, while the buyer was Brookfield Prop Prtnrs. The transaction was brokered by @cushwake.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $255,000,000
- Address: 333 W 34th Street, New York
- Market: Manhattan
The deal involved the participation of NY Reit as the seller and Brookfield Prop Prtnrs as the buyer. The transaction was facilitated by @cushwake acting as the broker.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93