Brookfield Property Partners Acquires Retail Asset On Fifth Avenue For $779M
12 W 55th St, New York, NY 10019, USA
Building Size
2,008 SF
Asset Type
Retail
Closing
Aug 16, 2017
About this deal
AI
Wharton Properties has divested the majority of their stake in 730 Fifth Avenue to Brookfield Property Partners for a total of $779,000,000. The property, located in Midtown, is a retail asset situated at 730 Fifth Avenue. Wharton Properties will still retain a small stake in the property following this transaction.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $779,000,000
- Date: 08/10/2020
- Address: 730 Fifth Avenue
- Market: Midtown
Brookfield Property Partners purchased the majority stake in 730 Fifth Avenue from Wharton Properties. Wharton Properties will maintain a small ownership interest in the property. Joseph Sutton, Jeff Sutton, and Ric Clark were the representatives involved in the deal.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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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