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NDS-0002OFFICEFREEHOLDSAMPLE
Manhattan Midtown Class-B Office — Value-Add Play
Bryant Park adjacent, 10018 · New York — Midtown Manhattan · United States
Price
US$60,000,000
Cap rate
6.90%
142k sqft office building at 68% occupancy. Recent lobby capex, elevator modernisation. Vendor open to seller financing on 40% of consideration.
KEY HIGHLIGHTS
- ▸Value-add lease-up story
- ▸In-place NOI grows 40% at stabilisation
- ▸Seller financing available
- ▸Below replacement cost