Sush Torgalkar & Gary Barnett Acquire Rental Property At 555 Tenth Avenue In Hudson Yards
555 Amsterdam Ave, New York, NY 10024, USA
$700,000,000
$57,142/SF
Building Size
12,250 SF
Asset Type
Other
Closing
Dec 12, 2019
About this deal
AI
The property at 555 Tenth Avenue in Hudson Yards has been sold in a closed transaction. The deal involved Sush Torgalkar and Gary Barnett. The property is a rental asset with 760 units. Citigroup and Rexmark provided a loan of $700,000,000 for the transaction. The landlord of the property is Extell.
Summary of transaction details
- Property Type: Rental
- Transaction Amount: $700,000,000
- Address: 555 Tenth Avenue
- Market: Hudson Yards
- Lender: Citigroup & Rexmark
- Landlord: Extell
- Units: 760
Sush Torgalkar and Gary Barnett were involved in the deal as representatives from their respective agencies. No additional details were provided regarding the parties involved in the transaction, the terms and conditions, or the timeline of the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93