Aby Rosen's RFR Realty Acquires Chrysler Building In New York For $150M
405 Lexington Avenue, New York, NY, USA
$150,000,000
$125/SF
Building Size
1,200,000 SF
Asset Type
Office
Closing
Mar 7, 2019
About this deal
AI
The iconic Chrysler Building located at 405 Lexington Ave. has been sold in a closed transaction. The office property, spanning a total area of 1,200,000 square feet, was the subject of the sale. The transaction took place on 03/08/2019, with an impressive price tag of $150,000,000. The buyer of this esteemed property is Aby Rosen's RFR Realty, while the seller was TishmanSpeyer & ADIA.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $150,000,000
- Property Address: 405 Lexington Ave., New York
- Total Square Footage: 1,200,000
- Price Per Square Foot: $125
- Buyer: Aby Rosen's RFR Realty
- Seller: TishmanSpeyer & ADIA
Darcy Stacom and Bill Shanahan from CBRE acted as brokers in this high-profile deal.
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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93