Swiss pension fund investor Afiaa through the entity Afiaa 45 West 45th Street, LLC paid Vanbarton Group’s 45W45 Strategic Venture LLC $126.0 million for 45 West 45th Street in Grand Central. The deal closed on September 26, 2019, and was recorded on November 1, 2019. The transaction consists of 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6). The property is 108,929 square feet.
The average sale price per square foot is $1,157.
The estimated cap rate is 2.8%
The last time the property sold was January 12, 2015, when Vanbarton bought it for $81,000,000.
Over the past five years, there have been 46 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,020,000. There were 45 renovation/alteration projects (A2) applied for with a total estimated value of $9,500,519.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.