Ebi Khalili, Josh Rahmani & Aaron Bergman Acquire Office Asset In Manhattan For $104 Million
373 Park Avenue South & 381 Park Avenue South
$104,000,000
$290/SF
Building Size
358,000 SF
Asset Type
Office
Closing
Nov 18, 2025
AI
The property asset involved in this transaction is located at 373 Park Avenue South & 381 Park Avenue South in Manhattan. The sale price for the office asset was $104,000,000, with a total square footage of 356,000, resulting in a price per square foot of $292.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $104,000,000
- Address: 373 Park Avenue South & 381 Park Avenue South
- Market: Manhattan
- Square Footage: 356,000
- Price Per Square Foot: $292
- Buyer: Ebi Khalili, Josh Rahmani & Aaron Bergman - Empire Capital Holdings; Olmstead Properties - Steve Marvin, Patrick Pavone & Samuel Rosenblatt; & Vertex
- Seller: ATCO Properties - Kate Hemmerdinger Goodman
- Broker: Adam Spies, Meaghan Philbin & Adam Doneger - Newmark
The transaction featured multiple buyers, including Empire Capital Holdings and Olmstead Properties, represented by Steve Marvin, Patrick Pavone, and Samuel Rosenblatt. The seller, ATCO Properties, was represented by Kate Hemmerdinger Goodman. The deal involved prominent brokers Adam Spies, Meaghan Philbin, and Adam Doneger from Newmark, facilitating the sale of this significant office space.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93