ARGO Real Estate & Bsafal Acquire Office Building In Greenwich Village For $30M
64 University Pl, New York, NY 10003, USA
$30,000,000
$1,200/SF
Building Size
25,000 SF
Asset Type
Office
Closing
Jun 26, 2019
AI
The office property located at 64 University Pl in Greenwich Village was recently sold for $30,000,000. The property spans a total area of 25,000 square feet, resulting in a price per square foot of $1,200.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,000,000
- Address: 64 University Pl, Greenwich Village
- Market: Greenwich Village
- Square Footage: 25,000
- Price Per Square Foot: $1,200
The seller of the property was Jonathan Posner, while the buyers were ARGO Real Estate & Bsafal. The transaction was facilitated by James Nelson, Brandon Polakoff, Mitch Levine, and Toku Saito from Avison Young, who represented the seller. The buyer was represented by Ben Thypin from Quantierra_.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93