HIG & Robert Martin Acquire Office Portfolio Including One Executive Blvd In Yonkers For $487.5M
SOLD
$487,500,000
+ 1
New York
See Similar DealsOffice31,000,000 SF
Sold 06/06/2019
SOLD
HIG & Robert Martin Acquire Office Portfolio Including One Executive Blvd In Yonkers For $487.5M
1 Executive Blvd #435, Yonkers, NY 10701, USA
See Similar DealsOffice31,000,000 SF
Sold 06/06/2019
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$15
Total Square Footage:31,000,000 SF
Transaction Type:Sale
One Executive Blvd and 61 other properties in Yonkers, Westchester, and Stamford have been sold in a closed property transaction. The office properties were purchased for a total price of $487,500,000 by HIG & Robert Martin. The seller of these properties was Mack-Cali Realty. The total square footage of the properties is approximately 3,100,000 square feet, with an average price per square foot of $157.
Summary of transation details
- Property Type: Office
- Transaction Amount: $487,500,000
- Square Footage: 3,100,000
- Price per Square Foot: $157
- Buyer: HIG & Robert Martin
- Seller: Mack-Cali Realty
- Brokers: Jordan Avanzato, Marc Duval, & Jose Cruz
Jordan Avanzato, Marc Duval, and Jose Cruz represented the buyer and seller in this transaction.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$25,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,731,984.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,310,998.71
Annual Debt Service$27,731,984.53
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