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430 West 15th Street

Savanna Acquires Office Asset From Invesco At 430 West 15th Street For $85M
SOLDOffice

Savanna Acquires Office Asset From Invesco At 430 West 15th Street For $85M

430 West 15th Street

$85,000,000

$912/SF

Building Size

93,118 SF

Asset Type

Office

Closing

Dec 19, 2024

AI

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:

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.

Players

Jeff Organisciak

Eastdil Secured

Broker

$8.9B

vol

37 deals

Broker

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

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93