Google Acquires Office Building In Chelsea For $600M
450 W 15th St, New York, NY 10011, USA
$600,000,000
$213/SF
Building Size
2,810,000 SF
Asset Type
Office
Closing
May 21, 2019
About this deal
AI
The office property located at 450 W 15th St in Chelsea has been sold in a closed transaction. The property spans 281,000 square feet and was sold for a price of $600 million, resulting in a price per square foot of $2,135.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $600M
- Square Footage: 281K
- Price Per Square Foot: $2,135
- Address: 450 W 15th St
- Market: Chelsea
The buyer of the property is Google, represented by Darcy Stacom from CBRE. The seller, Jamestown LP, was represented by Doug Harmon, Adam Spies, and Kevin Donner from CushWake. The transaction took place on 05/22/2019.
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93