Ruben Companies Sells One Dag Hammarskjöld Plaza Office Building In Midtown For $600M To Rockpoint Group
885 2nd Ave, New York, NY 10017, USA
$600,000,000
$736/SF
Building Size
815,000 SF
Asset Type
Office
Closing
Sep 6, 2018
About this deal
AI
The Ruben Companies has sold the office building at 885 Second Avenue, located in Midtown, for a price of $600,000,000. The property has a total square footage of 815,000 and a price per square foot of $730. The buyer of the property is Rockpoint Group.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $600,000,000
- Square Footage: 815,000
- Price per Square Foot: $730
- Address: 885 Second Avenue (One Dag Hammarskjöld Plaza)
- Market: Midtown
Cushman & Wakefield, represented by Douglas Harmon, Adam Spies, and Kevin Donner, facilitated the sale of the property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93