Ventas REIT Acquires Senior Housing Property In Manhattan From Brookdale Senior Living For $134.7M
SOLD
$134,700,000
New York
See Similar DealsOther2,392,000 SF
Sold 11/13/2018
SOLD
Ventas REIT Acquires Senior Housing Property In Manhattan From Brookdale Senior Living For $134.7M
455 North End Ave, New York, NY 10282, USA
See Similar DealsOther2,392,000 SF
Sold 11/13/2018
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$56
Total Square Footage:2,392,000 SF
Transaction Type:Sale
455 North End Avenue, a senior housing property located in Manhattan, has been sold for a price of $134,700,000. The property spans over an area of 239,200 square feet, with a price per square foot of $563. The transaction involved the seller, Brookdale Senior Living, and the buyer, Ventas REIT.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $134,700,000
- Address: 455 North End Avenue, Manhattan
- Market: Manhattan
- Square Footage: 239,200
- Price per Square Foot: $563
- Seller: Brookdale Senior Living
- Buyer: Ventas REIT
The deal was facilitated by Lucinda M. Baier and Debra Cafaro, representing Ventas REIT in the transaction as their broker representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,183,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$478,560.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$638,546.72
Annual Debt Service$7,662,560.65
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