Stream Line LLC Acquires Commercial Condo In Midtown Manhattan From New York Public Library For $34M
445 5th Avenue, New York City, New York 10035, United States
$34,000,000
$162/SF
Building Size
208,968 SF
Asset Type
—
Closing
Sep 30, 2021
About this deal
AI
The commercial condo located at 445 Fifth Avenue in Midtown has been sold for a total price of $34,000,000. The property is zoned for C5-3, C5-2.5, MID, and offers a prime location in the heart of Midtown.
Summary of transaction details:
- Property Type: Commercial Condo
- Sale Price: $34,000,000
- Address: 445 Fifth Avenue, Midtown
- Market: Midtown
- Zoning: C5-3, C5-2.5, MID
Stream Line LLC has acquired the property from the seller, New York Public Library - Anthony Marx. This deal marks an important transaction in the commercial real estate market, highlighting the demand for properties in the Midtown area. The transaction involved the representation of Stream Line LLC by their broker, Anthony Marx from New York Public Library.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93