Trinity Real Estate Acquires Office Building On 375 Hudson Street For $580M
375 Hudson St, New York, NY 10014, USA
Building Size
907,938 SF
Asset Type
Office
Closing
Aug 16, 2017
About this deal
AI
The office property located at 375 Hudson Street in New York City has been sold for a price of $580,000,000. The asset is situated in the Manhattan market and is owned by Tishman Speyer. The buyers of the property are Trinity Real Estate and Norges Bank (NBIM).
Summary of transaction details
- Property Type: Office
- Transaction Amount: $580,000,000
- Address: 375 Hudson Street, New York
- Market: Manhattan
- Seller: Tishman Speyer
- Buyer: Trinity Real Estate, Norges Bank (NBIM)
The involvement of Trinity Real Estate and Norges Bank (NBIM) as buyers characterizes this transaction. They have acquired the office property at 375 Hudson Street from Tishman Speyer, adding it to their portfolio.
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