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
About this deal
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.
On the Map
$63,500,000
$369/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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93