Office · Philadelphia
BNY Mellon Center (1735 Market Street)
—, Philadelphia
Verified
sourcedmodeled1 of 6 sourced
Ownership & debt
Ownership chain & debt stack
Owner of record: Silverstein Properties, Arden Group, and Migdal Insurance (JV).
3 recorded holders · 2 beneficial owners · chain resolves 2 levels, with each holder's interest percentage and class.
1 debt tranche on file — lender, principal, rate and maturity.
Financials
Financial model
Effective gross income, operating expenses, DSCR, cash-on-cash, mark-to-market and replacement cost — the income side of the underwrite.
Tenants & leasing
Tenant roster & leasing
4 tenants of record, with GLA, floor, lease expiration and base rent — plus occupancy, WALT and the rollover stack.
Underwriting
Underwriting
Unlevered and levered IRR, equity multiple, exit math and a live sensitivity grid — built on the NOI, the debt stack and the rent roll above.
Provenance footnotes
- Current value: Single source — The Philadelphia Inquirer · https://www.inquirer.com/real-estate/commercial/market-bny-mellon-silverstein-arden-zell-equity-commonwealth-20190130.html · observed 2019
- $/SF: Estimated — no sourced claim on file.
- GLA: Estimated — no sourced claim on file.
- Ownership — Silverstein Properties, Arden Group, and Migdal Insurance (JV): Single source — silversteinproperties.com · https://www.silversteinproperties.com/news/silverstein-properties-arden-group-and-migdal-ins-partner-to-acquire-1735-market-st
Modeled figures — LTV, debt yield, DSCR, cash-on-cash, occupancy, WALT, tenant concentration are derived arithmetic, not sourced claims. Not investment advice.
Anchoring begins when the asset enters the live ledger.