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609 5th Ave, New York, NY 1...

Reuben Brothers Purchases Retail Condo At 609 Fifth Avenue For $170M
SOLD

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

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

Doug Middleton

CBRE

Broker

$7.1B

vol

39 deals

Broker
Reuben Brothers
Reuben BrothersBuyer
SL Green
SL GreenSeller

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