Taconic & Nuveen Acquire Office Building On Upper West Side For $230M
320 W 66th St, New York, NY 10023, USA
$230,000,000
$2,322/SF
Building Size
99,015 SF
Asset Type
Office
Closing
Oct 29, 2019
AI
The office property located at 320 West 66th Street in the Upper West Side has been sold for a transaction amount of $230,000,000. This asset encompasses a total area of 515,000 square feet, resulting in a price per square foot of $446. The property was jointly sold by Silverstein Properties and Seven Valleys.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $230,000,000
- Address: 320 West 66th Street
- Market: Upper West Side
- Square Footage: 515,000
- Price Per Square Foot: $446
The buyer of this office property is Taconic & Nuveen. The brokerage firm Eastdil, represented by Gary Phillips and Jeff Organisciak, facilitated the deal.
Players
New York 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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93