Chetrit Group Acquires One Whitehall Street Office From Rudin For $182M
1 Whitehall St, New York, NY 10004, USA
$182,000,000
$497/SF
Building Size
366,000 SF
Asset Type
Office
Closing
Jul 23, 2019
About this deal
AI
One Whitehall Street, located in the Financial District (FiDi), has been sold in a closed transaction for a price of $182,000,000. The office building spans across a total area of 366,000 square feet, resulting in a price per square foot of $497.27. The property was bought by Chetrit Group from Rudin, with the assistance of brokerage firm CushWake.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $182,000,000
- Address: One Whitehall Street
- Market: Financial District (FiDi)
- Square Feet: 366,000
- Price per Square Foot: $497.27
- Buyer: Chetrit Group
- Seller: Rudin
- Broker: CushWake
The deal involved key individuals such as Adam Spies, Adam Doneger, Doug Harmon, Marcella Fasulo, Josh King, Kevin Donner, Joseph Chetrit, Michael Rudin, and Bill Rudin. The transaction marks a significant milestone in the real estate market in FiDi, showcasing the ongoing investment and sales activity in the area.
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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93