Aby Rosen Acquires Office Building On Third Avenue In Midtown East For $400M
900 3rd Ave, New York, NY 10022, USA
$400,000,000
$66/SF
Building Size
6,000,000 SF
Asset Type
Office
Closing
Feb 25, 2020
About this deal
AI
Aby Rosen has acquired an office property located at 900 Third Avenue in Midtown East. The property spans 600,000 square feet and was sold for a total of $400,000,000, resulting in a price per square foot of $667. The seller of this asset is Paramount Group.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $400,000,000
- Square Footage: 600,000
- Price Per Square Foot: $667
- Address: 900 Third Avenue
- Market: Midtown East
The deal was facilitated by the brokerage team of Adam Spies, Doug Harmon, Adam Doneger, Josh King, and Rachel Humphrey from Cushman & Wakefield.
On the Map
$400,000,000
$66/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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93