Sovereign Partners Acquires Office At 2 Grand Central Tower In Manhattan For $273 Million
2 Grand Central Tower
$273,000,000
$409/SF
Building Size
667,379 SF
Asset Type
Office
Closing
Dec 1, 2025
About this deal
AI
The property asset involved in this transaction is located at 2 Grand Central Tower in Manhattan. This office asset was sold for $273,000,000, encompassing a total square footage of 667,379. The price per square foot for this transaction is $409.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $273,000,000
- Buyer: Sovereign Partners
- Seller: Rockwood
- Seller's Representative: Gary Phillips, Will Silverman, Jeff Organisciak, Carly Shoulberg & Alana Bassen - Eastdil Secured
- Market: Manhattan
- Square Footage: 667,379
- Price per Square Foot: $409
This transaction was notably represented by a team of brokers from Eastdil Secured, including Gary Phillips, Will Silverman, Jeff Organisciak, Carly Shoulberg, and Alana Bassen, who facilitated the deal between Sovereign Partners and Rockwood.
On the Map
$273,000,000
$409/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Alana Bassen to view all their deals.
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93