Summary
PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$193
Total Square Footage:825,968 SF
Transaction Type:Sale
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
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$8,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$568,446.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$758,481.63
Annual Debt Service$9,101,779.54
Is there something missing? Send suggestions