Blackstone Acquires 49% Stake In One Manhattan West Office For $2.85B
1 Manhattan West, 401 9th Ave, New York City, New York 10001, United States
$2,850,000,000
$1,371/SF
Building Size
2,077,557 SF
Asset Type
Office
Closing
Dec 24, 2021
About this deal
AI
Blackstone has acquired a 49% stake in One Manhattan West, an office property located in Midtown West. The transaction, which took place in December 2021, involved the sale of the stake by Brookfield Asset Management. The total value of the deal amounted to $2,850,000,000.
Summary of transation details
- Property Type: Office
- Transaction Amount: $2,850,000,000
- Address: One Manhattan West
- Market: Midtown West
- Asset Size: 2,077,557 square feet
The buyer in the deal was Blackstone, while the seller was Brookfield Asset Management. Cushman & Wakefield served as the broker for the transaction.
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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93