1622 Market St
1622 Market St, Philadelphia, PA, 19103
$160,000,000
$193/SF
Building Size
825,968 SF
Asset Type
Office
Closing
Nov 19, 2023
AI
Located at 1622 Market St, Philadelphia, PA, 19103, the property involved in the sale transaction is a commercial asset spanning across 825,968 square feet. The deal was facilitated in Philadelphia, with a selling price of $160,000,000.00.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $160,000,000.00
- Market: Philadelphia
- Seller's Representative: Brett Segal(JLL), Douglas "Doug" Rodio(CBRE)
- Buyer: Affiliate of American Real Estate Partners
The sale transaction was spearheaded by Brett Segal from JLL and Douglas "Doug" Rodio from CBRE. The buyer, an affiliate of American Real Estate Partners, successfully acquired the property, marking a significant real estate deal in Philadelphia.
Players
Philadelphia Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93