RFR Holdings & Penske Media Acquire Office Building In New York For $290M
SOLD
$290,000,000
New York
See Similar DealsOffice280,000 SF
Sold 05/19/2022
SOLD
RFR Holdings & Penske Media Acquire Office Building In New York For $290M
475 5th Avenue, New York City, New York 10011, United States
See Similar DealsOffice280,000 SF
Sold 05/19/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,035
Total Square Footage:280,000 SF
Transaction Type:Sale
RFR Holdings and Penske Media Corporation have acquired an office property located at 475 5th Ave. in New York. The property, measuring 280,000 square feet, was sold by Nuveen for a total transaction amount of $290,000,000. The per square foot price of the transaction was $1,035.
Summary of transation details
- Property Type: Office
- Transaction Amount: $290,000,000
- Address: 475 5th Ave., New York
- Market: New York
The deal was facilitated by CBRE's brokers Doug Middleton, Alana Bassen, and Darcy Stacom, who represented both the buyer and the seller in the transaction.
It is worth noting that Doug Middleton, Alana Bassen, and Darcy Stacom are part of the CBRE agency.
Players
BUYER
SELLER
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$15,466,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,030,308.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,374,747.95
Annual Debt Service$16,496,975.41
Is there something missing? Send suggestions