Joe Simone Acquires Special Purpose Property In Manhattan For $11.15M
223 East 34th Street, New York City, New York 10016, United States
$11,150,000
$876/SF
Building Size
12,723 SF
Asset Type
—
Closing
Mar 27, 2022
AI
The property asset involved in this transaction is located at 223-225 East 34th Street in Manhattan. The special purpose asset was sold for a transaction amount of $11,150,000, encompassing a total square footage of 12,723 with a price per square foot of $876.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $11,150,000
- Address: 223-225 East 34th Street
- Market: Manhattan
- Square Footage: 12,723
- Price Per Square Foot: $876
- Buyer: Joe Simone
- Seller: New York University
- Brokers: Ryan Perkoski & John Martisch - RPR Ventures
This transaction features key individuals such as Joe Simone as the buyer and New York University as the seller. The deal was facilitated by brokers Ryan Perkoski and John Martisch, representing RPR Ventures in the transaction.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.42%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93