SOLDOffice
Estate Four Acquires Office Building In Manhattan For $135M
50 Varick St, New York, NY 10013, USA
Building Size
2,246,880 SF
Asset Type
Office
Closing
Aug 16, 2017
About this deal
AI
The office property located at 50 Varick Street in New York City has been sold in a closed transaction. The property, situated in Manhattan, spans a total of 224,688 square feet. The selling price for this transaction was $135,000,000, with a price per square foot of $600.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $135,000,000
- Address: 50 Varick Street
- City: New York
- Market: Manhattan
The seller of the property was NY Reit, while the buyer was Estate Four.
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93