Updated Oct 29, 2024
Sumaida & Khurana Acquires Office Building In Manhattan For $55M
823 11th Ave #825, New York, Ny 10019, Usa
Building Size
—
Asset Type
Office
Closing
Sep 16, 2017
About this deal
AI
The office property located at 823-825 Eleventh Avenue in New York City has been sold in a closed transaction. The property, situated in Manhattan, was purchased for a total price of $55,000,000. The transaction involved the seller, Red Apple Group, and the buyer, Sumaida + Khurana. The deal was facilitated by the brokerage firm HFF.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $55,000,000
- Address: 823-825 Eleventh Avenue, New York
- Market: Manhattan
HFF, a brokerage firm, represented both the buyer, Sumaida + Khurana, and the seller, Red Apple Group, in this transaction.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93