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373 Park Avenue South

Ebi Khalili, Josh Rahmani & Aaron Bergman Acquire Office Asset In Manhattan For $104 Million
SOLDOffice

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

Adam Doneger

Newmark

Broker

$50.2B

vol

190 deals

Broker
Adam Spies
Verified Badge

Adam Spies

Newmark

Broker

$71.8B

vol

263 deals

Broker

Josh Rahmani

Empire Capital Holdings

Buyer

$948.1M

vol

9 deals

Buyer
Empire Capital Holdings
Empire Capital HoldingsBuyer
ATCO Properties & Management
ATCO Properties & ManagementSeller
Bank OZK
Bank OZKLender

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