Boston Properties Acquires 389,075 SF Office At 360 Park Avenue South For $300M
360 Park Avenue South, New York, NY 10010
$300,000,000
$771/SF
Building Size
389,075 SF
Asset Type
Office
Closing
May 25, 2020
AI
The sale of the leasehold property at 360 Park Avenue South in Midtown South has been completed. The office asset spans an area of 389,075 square feet.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $300,000,000
- Date: 05/25/2021
- Buyer: Boston Properties
- Seller: Enterprise Asset Management
- Brokers: Darcy Stacom, Bill Shanahan, and Doug Middleton BRE
Darcy Stacom, Bill Shanahan, and Doug Middleton BRE represented the parties involved in this transaction. The buyer, Boston Properties, acquired the property from Enterprise Asset Management for the price of $300,000,000.
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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93