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685 3rd Ave, New York, NY 1...

Updated Oct 12, 2026

Unizo Holdings Co Ltd Acquires Office Building In Manhattan For $450M
SOLDOffice

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.

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Players

UH
Unizo HoldingsBuyer
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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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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