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Dermot Company & Investors Acquire 520 West 43rd Street In Manhattan For $193M

Property Image
SOLD
$193,000,000
Joshua King
Douglas (Doug) Harmon
+ 3

New York

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Other319,967 SF
Sold 04/25/2018
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Property Image
SOLD

Dermot Company & Investors Acquire 520 West 43rd Street In Manhattan For $193M

520 W 43rd St, New York, NY 10036, USA

See Similar Deals
Other319,967 SF
Sold 04/25/2018
Joshua King
Douglas (Doug) Harmon
+ 3
Contact now

Summary

NEW YORK
Asset Type:Other
Price Per Square Foot:$603
Total Square Footage:319,967 SF
Transaction Type:Sale

The property at 520 West 43rd Street in Manhattan has been sold for $193,000,000. The asset is a rental property with a total square footage of 319,967, resulting in a price per square foot of $603. The transaction took place on April 25, 2018. The seller of the property was AEW Capital Management, represented by Jeffrey D. Furber. The buyer of the property was Dermot Company & Investors, represented by Stephen Benjamin. The deal was facilitated by brokers Adam Spies, Doug Harmon, and Adam Doneger.

Summary of transation details

  • Property Type: Rentals
  • Transaction Amount: $193,000,000
  • Address: 520 West 43rd Street, New York
  • Market: Manhattan
  • Square Footage: 319,967
  • Price per Square Foot: $603
  • Seller: AEW Capital Mangement – Jeffrey D. Furber
  • Buyer: Dermot Company & Investors – Stephen Benjamin
  • Brokers: Adam Spies, Doug Harmon, and Adam Doneger

The deal involved prominent individuals in the real estate industry, including Stephen Benjamin from Dermot Company & Investors, who represented the buyer. The seller, AEW Capital Management, was represented by Jeffrey D. Furber. The brokers Adam Spies, Doug Harmon, and Adam Doneger played a crucial role in facilitating the transaction.

Players

Adam Doneger
189 deals$50B volume(516) 317-7837
BROKER

Adam Spies
Newmark
260 deals$71.4B volume(212) 841-7500
BROKER

Douglas (Doug) Harmon
Newmark
128 deals$47.3B volume
BROKER

Joshua King
Newmark
114 deals$32.5B volume(212) 850-5427
BROKER

Marcella Fasulo
Newmark
93 deals$25.7B volume
BROKER

Cushman & Wakefield
BROKERAGE

Stephen D Benjamin
8 deals$937.8M volume
BUYER

Details

SOLD
IMAGE: Stephen Benjamin, Adam Spies, Doug Harmon, Adam Doneger and Jeffrey D. Furber DATE: 04/25/2018 ADDRESS: 520 West 43rd Street CITY: New York MARKET: Manhattan ASSET TYPE: Rentals PRICE: $193,000,000 SF: 319,967 PSF: $603 SELLER: AEW Capital Mangement – Jeffrey D. Furber BUYER: Dermot Company & Investors – Stephen Benjamin BROKERS: Adam Spies, Doug Harmon, […]

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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