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Anthony E. Malkin Of Empire State Realty Trust Acquires Office Property For $110 Million
SOLD
$110,000,000
New York
See Similar DealsOffice
Sold 06/02/2026
SOLD
Anthony E. Malkin Of Empire State Realty Trust Acquires Office Property For $110 Million
111 West 33rd Street, 1400 Broadway N, 1400 Broadway New & 1400 Broadway
See Similar DealsOffice
Sold 06/02/2026
Summary
NEW YORK
Asset Type:Office
Transaction Type:Sale
The transaction involves the sale of office assets located at 111 West 33rd Street and 1400 Broadway in Manhattan. The property was purchased for a total of $110,000,000. The deal included the land beneath the Empire State Realty Trust's Manhattan towers.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $110,000,000
- Buyer: Anthony E. Malkin - Empire State Realty Trust
- Seller: Affiliates of Cohen Brothers Realty Corp
Anthony E. Malkin, representing Empire State Realty Trust, acquired the land from affiliates associated with Cohen Brothers Realty Corp. This transaction consolidates ownership of the land on which two significant towers reside.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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