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U.S. Bank Acquires 350000 SF Office At 750 Lexington Avenue From Charles Cohen For $1
SOLD
$1
New York
See Similar DealsOffice
Sold 01/21/2026
SOLD
U.S. Bank Acquires 350000 SF Office At 750 Lexington Avenue From Charles Cohen For $1
750 Lexington Avenue
See Similar DealsOffice
Sold 01/21/2026
Summary
NEW YORK
Asset Type:Office
Transaction Type:Sale
The property asset involved in this transaction is located at 750 Lexington Avenue in Midtown, Manhattan. It was sold at a foreclosure auction for $1, encompassing a total area of 350,000 square feet. The asset type is categorized as an office space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1
- Sale Date: 01/21/2026
- Buyer: U.S. Bank
- Seller: Charles Cohen
- Square Footage: 350,000 SF
- Market: Midtown, Manhattan
U.S. Bank acquired the property from Charles Cohen at the foreclosure auction, where it was the sole bidder, leading to a transfer of ownership of the Midtown office tower.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$0.07
Debt Service Coverage Ratio (DSCR)
1.15x
Cap Rate
6.55%
Cash Flow (Annual)$0.01
Cash-on-Cash Return3.08%
Monthly Debt Service$0.00
Annual Debt Service$0.06
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