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David Werner Real Estate Investments Acquires 440 Ninth Avenue Office Building For $105M In Manhattan
SOLD
New York
See Similar DealsOffice342,596 SF
Sold 08/20/2025
SOLD
David Werner Real Estate Investments Acquires 440 Ninth Avenue Office Building For $105M In Manhattan
440 Ninth Avenue
See Similar DealsOffice342,596 SF
Sold 08/20/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$306
Total Square Footage:342,596 SF
Transaction Type:Sale
The office building located at 440 Ninth Avenue in Manhattan’s Garment District has been sold for $105 million. This property spans 342,596 square feet, resulting in a price per square foot of $306.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $105,000,000
- Square Footage: 342,596
- Price Per Square Foot: $306
- Buyer: David Werner - David Werner Real Estate Investments
- Seller: Charles R. Bendit & Paul E. Pariser - Taconic Partners; Mike Sales - Nuveen Real Estate
- Market: Garment District, Manhattan
The transaction was facilitated by David Werner Real Estate Investments as the buyer, acquiring the property from Taconic Partners and Nuveen Real Estate, represented by Charles R. Bendit, Paul E. Pariser, and Mike Sales.
Players
SELLER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,599,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$373,042.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$497,753.57
Annual Debt Service$5,973,042.82
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