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95 Morton St, New York, NY ...

Updated Oct 29, 2024

RFR Realty Acquires Office Building In Manhattan For $205M
SOLDOffice

RFR Realty Acquires Office Building In Manhattan For $205M

95 Morton St, New York, NY 10014, USA

Building Size

154,328 SF

Asset Type

Office

Closing

Mar 1, 2017

About this deal

AI

Located at 95 Morton Street in Manhattan, this office property was sold in March 2017 for a staggering price of $205,000,000. Spanning across 154,328 square feet, the property fetched a price of $1328 per square foot, making it an attractive investment opportunity.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $205,000,000
  • Square Footage: 154,328
  • Price per Square Foot: $1328
  • Address: 95 Morton Street, New York
  • Market: Manhattan

RFR Realty, represented by abyrosen, emerged as the buyer in this transaction, while Brickman Associates served as the seller. The deal showcases RFR Realty's strategic acquisition in the Manhattan market, highlighting their commitment to expanding their office portfolio with this prime property on Morton Street.

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Players

BA
Brickman AssociatesSeller
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New York Office Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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