ViacomCBS Acquires Office Building In Hells Kitchen For $26.75M
500 W 57th St, Manhattan, New York, NY, USA
$26,750,000
$1,119/SF
Building Size
23,906 SF
Asset Type
Office
Closing
Feb 2, 2021
About this deal
AI
500 W. 57th St., located in Hells Kitchen, has been sold in a transaction worth $26,750,000. The property, categorized as an office, spans a total area of 23,906 square feet. The price per square foot for this sale is $1,118. The buyer of the property is ViacomCBS, while the seller is Extell. The previous recorded sale for this property was $19 million in September 2017.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $26,750,000
- Address: 500 W. 57th St.
- Market: Hells Kitchen
- Zoning: C2-7
- Buyer: ViacomCBS
- Seller: Extell
- Sale Date: 02/03/2021
- Building Square Footage: 23,906
- Price per Square Foot: $1,118
- Last Sale: $19 million (9/2017)
George Cheeks and Gary Barnett were involved in this transaction representing ViacomCBS and Extell respectively.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93