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The Vanbarton Group Acquires Office Asset At 5 East 42nd Street For $135M

Property Image
SOLD
$135,000,000
Daniel Shirazi
Stephen Tang-Alcala
+ 1

New York

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Office300,000 SF
Sold 09/29/2025
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Property Image
SOLD

The Vanbarton Group Acquires Office Asset At 5 East 42nd Street For $135M

5 East 42nd Street

See Similar Deals
Office300,000 SF
Sold 09/29/2025
Daniel Shirazi
Stephen Tang-Alcala
+ 1
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$450
Total Square Footage:300,000 SF
Transaction Type:Sale

The asset involved in this transaction is an office property located at 5 East 42nd Street, situated in the Midtown Manhattan market. The property was sold for $135,000,000, encompassing a total square footage of 400,000, which translates to a price per square foot of $338.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $135,000,000
  • Address: 5 East 42nd Street
  • Market: Midtown Manhattan
  • Square Footage: 400,000
  • Price per Square Foot: $338
  • Buyer: The Vanbarton Group
  • Seller: Emigrant Savings Bank
  • Buyer's Representatives: Daniel Shirazi, Robert Khodadadian, Daniel Davidov - Skyline Properties

The transaction involved key individuals representing the buyer, including Joey Chilelli, Richard Coles, and Adam Baron. They played crucial roles in facilitating the deal on behalf of The Vanbarton Group while being assisted by their representatives from Skyline Properties.

Players

Daniel Shirazi
16 deals$825.5M volume
BROKER

Robert Khodadadian
Skyline Properties
30 deals$1.1B volume(212) 537-9239
BROKER

Stephen Tang-Alcala
Skyline Properties
5 deals$531.5M volume(212) 537-9239
BROKER

Richard Coles
9 deals$956.6M volume
BUYER

Details

SOLD
IMAGE: Daniel Shirazi, Daniel Davidov, Robert Khodadadian, Joey Chilelli, Richard Coles & Adam Baron DATE: 9/29/2025 ADDRESS: 5 East 42nd Street MARKET: Midtown Manhattan ASSET TYPE: Office BUYER: The Vanbarton Group - Joey Chilelli, Richard Coles & Adam Baron (@AdamiBaron_15) SELLER: Emigrant Savings Bank BUYER'S REP: Daniel Shirazi (@Shiraziesq), Robert Khodadadian (@Robert_Khodadadian) & Daniel Davidov - Skyline Properties (@SkylinePropertiesNYC) SALE PRICE: $135,000,000 SF: 400,000 ~ PPSF: $338

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,200,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$479,626.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$639,968.87
Annual Debt Service$7,679,626.49