Davis Companies And Tribeca Investment Group Acquire Office Asset From Atco Properties For $65M
630 3rd Avenue
$65,000,000
$249/SF
Building Size
261,000 SF
Asset Type
Office
Closing
Oct 14, 2025
About this deal
AI
The property asset involved in this transaction is an office building located at 630 3rd Avenue in the Grand Central market. It was sold for a total transaction amount of $65,000,000, covering an area of 261,000 square feet, which results in a price per square foot of $249.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $65,000,000
- Address: 630 3rd Avenue
- Market: Grand Central
- Square Footage: 261,000
- Price Per Square Foot: $249
- Buyer: Davis Companies & Tribeca Investment Group
- Seller: Atco Properties
- Broker: Albert Sultan - KSR
Albert Sultan of KSR was responsible for arranging the joint venture and recapitalization between the buyers, Davis Companies and Tribeca Investment Group, and the seller, Atco Properties.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93