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233 E 111th St, New York, N...

Updated Oct 29, 2024

Emerald Equity Group Purchases 233 E 111th St New York From E&M Associates For $357.5M
SOLD

Emerald Equity Group Purchases 233 E 111th St New York From E&M Associates For $357.5M

233 E 111th St, New York, NY, 10029

$357,500,000

$501/SF

Building Size

712,571 SF

Asset Type

Closing

Nov 22, 2023

About this deal

AI

The property asset involved in this transaction is located at 233 E 111th St, New York, NY, 10029, with a market value in New York. The transaction was completed for a price of $357,500,000.00, encompassing a square footage of 712,571.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $357,500,000.00
  • Address: 233 E 111th St, New York, NY, 10029
  • Market: New York
  • Seller: E&M Associates
  • Buyer: Emerald Equity Group
  • Seller's Representative: Michael Tortorici (Ariel Property Advisors)

This transaction features key individuals and companies, with Emerald Equity Group acting as the buyer, while E&M Associates served as the seller. The representation for the seller in this deal was by Michael Tortorici from Ariel Property Advisors, ensuring the interests of E&M Associates were adequately managed throughout the transaction process.

Players

Michael A. Tortorici

Ariel Property Advisors

Broker

$908.9M

vol

48 deals

Broker
EG
Emerald Equity GroupBuyer
EA
E&M AssociatesSeller

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Deal FAQ

About $501 per square foot on a published $357.5M for 712,571 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.04%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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