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55 Broad Street, New York C...

Nathan Berman, Larry Silverstein, And Marty Burger Acquire 55 Broad Street Office Building In Financial District For $180M
SOLDOffice

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

Gary Phillips

Eastdil Secured

Broker

$34.9B

vol

89 deals

Broker

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