Joint Venture Of Olmstead Properties, Vertex Properties And Hamlin Ventures Acquires Midtown West Office For $108M
19 West 44th Street
$108,000,000
$459/SF
Building Size
235,199 SF
Asset Type
Office
Closing
Jun 4, 2026
About this deal
AI
The property asset involved in the transaction is an office building located at 19 West 44th Street in Midtown West, Manhattan. The joint venture acquired the building for a sale price of $108,000,000. The asset has a total square footage of 235,199, resulting in a price per square foot of approximately $459.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $108,000,000
- Square Footage: 235,199
- Price per Square Foot: $459
- Buyer: Samuel Rosenblatt - Olmstead Properties, Vertex Properties & Hamlin Ventures
- Seller: Savanna
- Transaction Date: June 4, 2026
- Recorded Date: June 22, 2026
The deal involved a collaboration between Olmstead Properties, Vertex Properties, and Hamlin Ventures, marking a significant acquisition for these entities. Samuel Rosenblatt represents the buyer group in this joint venture with Savanna as the seller.
On the Map
$108,000,000
$459/SF
Office
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Players
Market 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93