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
About this deal
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:
- 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.
On the Map
$85,000,000
$912/SF
Office
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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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93