Aurora Capital Associates & Edmond M. Safra Acquire Retail Condo On 530 Fifth Avenue For $192M
530 5th Avenue, Manhattan, New York, NY, USA
$192,000,000
$3,200/SF
Building Size
60,000 SF
Asset Type
—
Closing
Sep 7, 2021
About this deal
AI
A retail condo located at 530 Fifth Avenue in Midtown Manhattan has been sold for $192,000,000. The property spans 60,000 square feet, resulting in a price per square foot of $3,200. The previous sale of the property occurred in 2014 for $295,000,000.
Summary of transation details
- Property Type: Retail Condo
- Transaction Amount: $192,000,000
The buyer of the retail condo at 530 Fifth Avenue is Aurora Capital Associates and Edmond M. Safra. The seller is Brookfield Property Partners. The deal was facilitated by a team of brokers consisting of Adam Spies, Kevin Donner, Marcella Fasulo, Doug Harmon, Adam Doneger, Josh King, and Ben Lushing from Cushman & Wakefield.
The retail condo is currently occupied by Duane Reade, Chase, UGG, and FiveBelow.
On the Map
$192,000,000
$3,200/SF
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93