Reuben Brothers Purchases Retail Condo At 609 Fifth Avenue For $170M
SOLD
$170,000,000
+ 1
New York
See Similar DealsSold
SOLD
Reuben Brothers Purchases Retail Condo At 609 Fifth Avenue For $170M
609 5th Ave, New York, NY 10017, USA
See Similar DealsSold
+ 1
Summary
NEW YORK
Transaction Type:Sale
The retail condo located at 609 Fifth Avenue in Midtown has been sold for a price of $170,000,000. The property spans 27,000 square feet, resulting in a price per square foot of $6,296.
Summary of transaction details
- Property Type: Retail condo
- Transaction Amount: $170,000,000
- Address: 609 Fifth Avenue
- Market: Midtown
- Square Footage: 27,000
- Price per Square Foot: $6,296
The buyer in this transaction is Reuben Brothers, while @SLGreen_Realty acted as the seller. The deal was facilitated by Darcy Stacom, William Shanahan, Doug Middleton, and David Fowler from CBRE.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$9,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$603,974.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$805,886.73
Annual Debt Service$9,670,640.76
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