Stream Line LLC Acquires Commercial Condo In Midtown Manhattan From New York Public Library For $34M
SOLD
$34,000,000
New York
See Similar Deals208,968 SF
Sold 10/01/2021
SOLD
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
See Similar Deals208,968 SF
Sold 10/01/2021
Summary
NEW YORK
Price Per Square Foot:$162
Total Square Footage:208,968 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15
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