Invesco Acquires Office Property In Manhattan For $235M
80 Broad St, New York, NY 10004, USA
$235,000,000
$552/SF
Building Size
425,000 SF
Asset Type
Office
Closing
Nov 14, 2017
About this deal
AI
The office property located at 80 Broad Street in Manhattan, New York has been sold in a closed transaction. The transaction took place on November 15, 2017, at a sale price of $235,000,000. The property has a total area of 425,000 square feet, resulting in a price per square foot of $550. The property is situated in the prime market of Manhattan, making it an attractive investment opportunity.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $235,000,000
- Address: 80 Broad Street, New York
- Market: Manhattan
- Square Footage: 425,000
- Price per Square Foot: $550
The seller of the property was Raymond Chalmé and Daniel Blanco's Broad Street Development, while the buyer was @invescous. Representing the parties in the deal was the broker @cushwake. The transaction generated significant interest, with 95% of the property's ownership being acquired.
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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93