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223 East 34th Street, New Y...

Joe Simone Acquires Special Purpose Property In Manhattan For $11.15M
SOLD

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

John Martisch

Broker

$70.5M

vol

14 deals

Broker
Joseph Simone

Joseph Simone

Simone Development Companies

Buyer

$243M

vol

12 deals

Buyer
NU
New York UniversitySeller

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