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Vanbarton Group Acquires Office Asset From Emigrant Savings Bank In Midtown East For $140M

Property Image
SOLD
$140,000,000
Will Silverman
Gary Phillips

New York

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Office400,000 SF
Sold 05/20/2025
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Property Image
SOLD

Vanbarton Group Acquires Office Asset From Emigrant Savings Bank In Midtown East For $140M

6 East 43rd Street

See Similar Deals
Office400,000 SF
Sold 05/20/2025
Will Silverman
Gary Phillips
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$350
Total Square Footage:400,000 SF
Transaction Type:Sale

The property asset sold is an office located at 6 East 43rd Street in Midtown East. The transaction was completed for a total sale price of $140,000,000, which translates to approximately $350 per square foot for the total area of 400,000 square feet.

Summary of transaction details:

This transaction involved key individuals including Will Silverman and Gary Phillips, who represented the buyer Vanbarton Group and the seller Emigrant Savings Bank respectively. The brokers are affiliated with Eastdil Secured, a firm known for handling significant real estate transactions.

Players

Gary Phillips
Eastdil Secured
Gary Phillips
89 deals$34.9B volume
BROKER
Will Silverman
Eastdil Secured
Will Silverman
72 deals$28.1B volume
BROKER
Vanbarton Group
Vanbarton Group
BUYER

Details

SOLD
IMAGE: Gary Phillips, Richard Coles, Gary Tischler & Will Silverman DATE: 5/20/2025 ADDRESS: 6 East 43rd Street MARKET: Midtown East ASSET TYPE: Office BUYER: Vanbarton Group SELLER: Emigrant Savings Bank BROKERS: Will Silverman (@Wilverman1978) & Gary Phillips (@Garyty123) - Eastdil Secured (@EastdilSecured) SALE PRICE: $140,000,000 SF: 400,000 ~ PPSF: $350

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$497,390.43
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