Worth Capital Acquires Ground Lease In Chelsea For $175M
355 W 16th St, New York, NY 10011, USA
Building Size
25,300 SF
Asset Type
Other
Closing
Jun 19, 2019
About this deal
AI
Located at 355 W 16th St in the Chelsea market, a ground lease transaction took place. The property was sold for a total price of $175,000,000.
Summary of transaction details
- Property Type: Ground Lease
- Transaction Amount: $175,000,000
- Buyer: Worth Capital – Charles R. Holzer
- Seller: Sahara India Pariwar – Subrata Roy
Worth Capital, represented by Charles R. Holzer, acquired the ground lease from Sahara India Pariwar, with Subrata Roy representing the seller in the deal.
Traded’s record for 355 W 16th St, New York, NY 10011, USA in New York, New York covers a other lease from 2019. Published size for 355 W 16th St, New York, NY 10011, USA is 25,300 square feet. This page is the New York, New York file for the 355 W 16th St, New York, NY 10011, USA other leased: pricing, party profiles, and other closed other comps from the same New York sit in the Market section below. Filter that New York other set by closing date to see what else leased near 355 W 16th St, New York, NY 10011, USA around 2019. Cite this Worth Capital Acquires Ground Lease In Chelsea For $175M lease when underwriting similar other product around New York, New York.
Players
New York Other Market Snapshot
Boundary boundary · Other · Lease transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93