Reuben Brothers Purchases Retail Condo At 609 Fifth Avenue For $170M
609 5th Ave, New York, NY 10017, USA
$170,000,000
Building Size
—
Asset Type
—
Closing
Apr 28, 2020
About this deal
AI
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
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93