William R Berkley Foundation Purchases 9 West 54th Street Office Building From Skyline Developers For $38.2M
9 West 54th Street
$38,212,688
$1,563/SF
Building Size
24,449 SF
Asset Type
Office
Closing
Jun 10, 2025
AI
The property asset involved in this transaction is an office building located at 9 West 54th Street in Central Midtown, Manhattan. The transaction was finalized for a price of $38,212,688, and the building has a total square footage of 24,449, resulting in a price per square foot of $1,563.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $38,212,688
- Address: 9 West 54th Street
- Market: Central Midtown, Manhattan
- Square Footage: 24,449
- Price Per Square Foot: $1,563
- Buyer: William R Berkley - William R. Berkley Foundation
- Seller: Orin Wilf - Skyline Developers
- Sale Date: June 10, 2025
- Recording Date: June 16, 2025
William R. Berkley Foundation, represented by William R Berkley, acquired the office building from Skyline Developers, led by Orin Wilf. The sale of the landmarked building marked a significant transaction in the real estate market of Midtown West.
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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93