facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Office

/

Sale

/

470 Vanderbilt Avenue

Updated Aug 19, 2025

Lincoln Properties & Cross Ocean Partners Acquire Office Asset In Downtown Brooklyn For $70M
SOLDOffice

Lincoln Properties & Cross Ocean Partners Acquire Office Asset In Downtown Brooklyn For $70M

470 Vanderbilt Avenue

$70,000,000

$107/SF

Building Size

650,000 SF

Asset Type

Office

Closing

Aug 7, 2025

About this deal

AI

This leasehold interest pertains to a 650,000 square foot office asset located at 470 Vanderbilt Avenue in Brooklyn. The property was sold for $70,000,000, translating to a price per square foot of $107. The asset is fully leased by the New York City Human Resources Administration and the New York City Housing Authority (NYCHA).

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $70,000,000
  • Address: 470 Vanderbilt Avenue
  • Market: Brooklyn
  • Square Footage: 650,000
  • Price Per Square Foot: $107
  • Buyer: Lincoln Properties & Cross Ocean Partners
  • Seller: RXR
  • Seller's Representatives: Doug Middleton & Jack Stillwagon - CBRE

The transaction involved key individuals and companies including representatives from CBRE who facilitated the sale on behalf of the seller RXR. The deal highlights the involvement of multiple stakeholders in a significant office market transaction.

On the Map

Open live map

$70,000,000

$107/SF

Office

View full map

Players

Doug Middleton

CBRE

Broker

$7.1B

vol

40 deals

Broker
CBRE
CBREBrokerage
Cross Ocean Partners
Cross Ocean PartnersBuyer
RXR Realty
RXR RealtySeller
Bilt advertisement

Brooklyn Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Deal FAQ

About $107 per square foot on a published $70M for 650,000 square feet (2025).

Visit Doug Middleton to view all their deals.

Browse Brooklyn office sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets