Vanbarton Group Acquires Office Asset From Emigrant Savings Bank In Midtown East For $140M
6 East 43rd Street
$140,000,000
$350/SF
Building Size
400,000 SF
Asset Type
Office
Closing
May 19, 2025
AI
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:
- Property Type: Office
- Transaction Amount: $140,000,000
- Square Footage: 400,000
- Price Per Square Foot: $350
- Buyer: Vanbarton Group
- Seller: Emigrant Savings Bank
- Brokers: Will Silverman & Gary Phillips - Eastdil Secured
- Date of Transaction: 5/20/2025
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
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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93