Steven A. Cohen Acquires Queens Stadium From Sterling RE Holdings LLC For $553.9M
Citi Field, Queens
$553,924,375
Building Size
—
Asset Type
Other
Closing
Nov 5, 2020
About this deal
AI
The CitiField stadium located in Queens has been sold in a closed transaction. The property, which includes 41,922 seats, was purchased by Steven A. Cohen for a total of $553,924,375. The seller of the stadium is Sterling RE Holdings LLC, represented by Fred Wilpon and Saul Katz. The New York Mets will continue to be the tenant of the stadium.
Summary of transaction details:
- Property Type: Stadium
- Transaction Amount: $553,924,375
- Address: @CitiField, Queens
- Tenant: New York Mets
- Seller: Sterling RE Holdings LLC – Fred Wilpon & Saul Katz
- Buyer: Steven A. Cohen
- Seats: 41,922
Steven A. Cohen, a prominent figure in the business industry, has made the acquisition of CitiField. The seller, Sterling RE Holdings LLC, represented by Fred Wilpon and Saul Katz, finalized the deal. This transaction marks a significant milestone in the world of stadium ownership.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93