Unizo Holdings Co Ltd Acquires Office Building In Manhattan For $450M
685 3rd Ave, New York, NY 10017, USA
Building Size
31,129 SF
Asset Type
Office
Closing
Aug 16, 2017
About this deal
AI
The office building located at 685 Third Avenue in Manhattan, New York has been sold in a closed transaction. The property was sold for a staggering price of $450,000,000. The seller of the property was TIAA and Future Fund, while the buyer was Unizo Holdings Co Ltd. The transaction was facilitated by the real estate agency CBRE.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $450,000,000
- Address: 685 Third Avenue
- City: New York
- Market: Manhattan
This significant deal highlights the involvement of key individuals and companies. TIAA and Future Fund acted as the sellers, while Unizo Holdings Co Ltd emerged as the buyer. The brokerage firm CBRE played a crucial role in facilitating the transaction.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93