Aby Rosen's RFR Realty Acquires Chrysler Building In New York For $150M
SOLD
$150,000,000
New York
See Similar DealsOffice1,200,000 SF
Sold 03/08/2019
SOLD
Aby Rosen's RFR Realty Acquires Chrysler Building In New York For $150M
405 Lexington Avenue, New York, NY, USA
See Similar DealsOffice1,200,000 SF
Sold 03/08/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$125
Total Square Footage:1,200,000 SF
Transaction Type:Sale
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
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32
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