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360 Park Avenue South, New ...

Boston Properties Acquires 389,075 SF Office At 360 Park Avenue South For $300M
SOLDOffice

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

Doug Middleton

CBRE

Broker

$7.1B

vol

39 deals

Broker
Boston Properties
Boston PropertiesBuyer

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