Nathan Berman, Larry Silverstein, And Marty Burger Acquire 55 Broad Street Office Building In Financial District For $180M
55 Broad Street, New York City, New York 10004, United States
$180,000,000
$423/SF
Building Size
425,000 SF
Asset Type
Office
Closing
May 16, 2022
AI
The property involved in this transaction is an office located at 55 Broad Street in the Financial District. The property spans 425,000 square feet and was sold for a total price of $180,000,000, resulting in a price per square foot of $424.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $180,000,000
- Address: 55 Broad Street
- Market: Financial District
- Buyer: Nathan Berman - Metro Loft & Larry Silverstein and Marty Burger - Silverstein Properties
- Seller: Bill Rudin & Michael Rudin - Rudin Management
- Brokers: Gary Phillips, Steve Binswanger & Will Silverman - Eastdil Secured
The buyer of the property is Nathan Berman from Metro Loft, along with Larry Silverstein and Marty Burger from Silverstein Properties. The seller is Bill Rudin and Michael Rudin from Rudin Management. The deal was facilitated by brokers Gary Phillips, Steve Binswanger, and Will Silverman from Eastdil Secured.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93