ZG Capital Partners Acquires Office Building In Union Square For $40M
836 Broadway, New York, NY 10003, USA
$40,000,000
$519/SF
Building Size
77,000 SF
Asset Type
Office
Closing
Oct 26, 2021
About this deal
AI
The office property located at 836 Broadway in Union Square has been sold in a transaction valued at $40,000,000. The property spans across 77,000 square feet, resulting in a price per square foot of $519. The sale was finalized on October 26, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40,000,000
- Address: 836 Broadway
- Market: Union Square
The buyer of the property is ZG Capital Partners, represented by Bobby Zar and James Tamborlane. They acquired the property from Hyde Park Associates, with Bernie Karr as the seller. The deal was facilitated by the brokers Brett Siegel, Evan Layne, and Henry Fox of Newmark.
On the Map
$40,000,000
$519/SF
Office
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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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93