Related Acquires Office Property On Madison Avenue For $633M
625 Madison Avenue
$633,000,000
$1,085/SF
Building Size
583,000 SF
Asset Type
Office
Closing
Dec 4, 2023
About this deal
AI
The office building located at 625 Madison Avenue in the Plaza District has been sold for $633,000,000. The property spans 583,000 square feet, resulting in a price per square foot of $1,086. The transaction took place on December 4, 2023.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $633,000,000
- Address: 625 Madison Avenue
- Market: Plaza District
- Buyer: Related
- Seller: SL Green Winthrop
- Brokers: Adam Doneger, Adam Spies, Douglas (Doug) Harmon & Willis Robbins - Newmark
- Square Footage: 583,000
- Price per Square Foot: $1,086
The sale of the office building at 625 Madison Avenue was facilitated by the brokers Adam Doneger, Adam Spies, Douglas (Doug) Harmon, and Willis Robbins of Newmark, representing the buyer and the seller. The deal marks a significant transaction in the Plaza District, highlighting the continued interest in the area's office assets.
On the Map
$633,000,000
$1,085/SF
Office
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Players
Lindenhurst 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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93