Carlyle Group Acquires Office Building In New York's Manhattan For $218M
866 United Nations Plaza, New York, NY 10017, USA
Building Size
471,000 SF
Asset Type
Office
Closing
Mar 1, 2017
About this deal
AI
The office property located at 866 UN Plaza in New York City was recently sold in March 2017. The transaction involved a total sale price of $218,000,000. The office space spans a total of 471,000 square feet, resulting in an average price per square foot of $462. The property is situated in the Manhattan market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $218,000,000
- Square Footage: 471,000
- Price per Square Foot: $462
The seller of the office property was Meadow Partners, a prominent real estate investment firm. On the other hand, the buyer was Carlyle Group, a renowned investment firm operating worldwide.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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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