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9 Times Square

Elliott Chehebar & Ike Chehebar Acquire Office At 9 Times Square In Midtown Manhattan For $63.5M
SOLDOffice

Elliott Chehebar & Ike Chehebar Acquire Office At 9 Times Square In Midtown Manhattan For $63.5M

9 Times Square

$63,500,000

$369/SF

Building Size

172,000 SF

Asset Type

Office

Closing

Dec 18, 2024

AI

The asset involved in this transaction is an office property located at 9 Times Square in Midtown Manhattan. The sale price of the property was $63,500,000. The property has a total area of 172,000 square feet, which results in a price per square foot of $369.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $63,500,000
  • Address: 9 Times Square
  • Market: Midtown Manhattan
  • Square Footage: 172,000
  • Price per Square Foot: $369
  • Buyer: Elliott Chehebar & Ike Chehebar - The Jackson Group
  • Broker: Ross Mezzo - Global Advisory

This transaction features Elliott Chehebar and Ike Chehebar as the buyers, representing The Jackson Group. The brokerage firm involved in the transaction was Global Advisory, with Ross Mezzo serving as the broker representing the deal.

Players

Ross Mezzo

Global Advisory

Broker

$133.8M

vol

3 deals

Broker

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

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93