Savanna Acquires Office Asset From Invesco At 430 West 15th Street For $85M
SOLD
$85,000,000
New York
See Similar DealsOffice93,118 SF
Sold 12/19/2024
SOLD
Savanna Acquires Office Asset From Invesco At 430 West 15th Street For $85M
430 West 15th Street
See Similar DealsOffice93,118 SF
Sold 12/19/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$912
Total Square Footage:93,118 SF
Transaction Type:Sale
The office asset located at 430 West 15th Street in Manhattan is under contract with a sale price of $85,000,000. The total square footage of the property is 93,118, resulting in a price per square foot of $912.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $85,000,000
- Address: 430 West 15th Street
- Market: Manhattan
- Buyer: Savanna
- Seller: Invesco
- Brokers: Gary Phillips, Will Silverman & Jeff Organisciak - Eastdil Secured
The transaction involves key stakeholders, including the buyer Savanna and the seller Invesco, represented by brokers Gary Phillips, Will Silverman, and Jeff Organisciak from Eastdil Secured. This collaboration highlights the professional involvement in the closing of this substantial office property deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$301,987.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$402,943.36
Annual Debt Service$4,835,320.38
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