Gural Family's Northwind Group Acquires 7 Hanover Square Office Building For $310M
7 Hanover Square, New York, NY 10004, USA
$585,000,000
$16,480/SF
Building Size
35,496 SF
Asset Type
Office
Closing
Jun 17, 2019
About this deal
AI
The office building located at 7 Hanover Square in Manhattan has been sold for a price of $310,000,000. The property spans an area of 915,000 square feet and was sold at a rate of $339 per square foot. The transaction was completed on January 15, 2018.
Summary of transation details
- Property Type: Office
- Transaction Amount: $310,000,000
- Address: 7 Hanover Square, New York
- Market: Manhattan
The seller of the property was Guardian Life Insurance, while the buyer was the Gural family, specifically Jeffrey Gural and Ran Eliasaf's Northwind Group. The brokerage firm Cushman & Wakefield, represented by Adam Spies and Douglas Harmon, facilitated the transaction.
Please note that the transaction was scheduled to close, according to the provided information.
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
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93