ABCNews Parent Company Sells Manhattan Office Buildings For $1B
77 W 66th St, New York, NY 10023, USA
Building Size
2,878,220 SF
Asset Type
Office
Closing
Apr 5, 2018
About this deal
AI
77 West 66th Street and 47 West 66th Street, along with other properties, have been sold in a closed transaction in Manhattan, New York. The office assets, comprising a total square footage of 634,875, were part of the deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,000,000,000
- Address: 77 West 66th Street, 47 West 66th Street, and various others
- City: New York
- Market: Manhattan
The sale was facilitated by the seller, @ABCNews parent company, and the buyer, Robert Iger and Larry Silverstein. They were represented by their respective brokers in the deal.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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