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866 1st Avenue

U.S. Department Of State Acquires Office Condo In Turtle Bay For $4M
SOLD

U.S. Department Of State Acquires Office Condo In Turtle Bay For $4M

866 1st Avenue

$4,000,000

$1,464/SF

Building Size

2,731 SF

Asset Type

Closing

Aug 11, 2022

AI

An office condominium located at 866 United Nations Plaza in Turtle Bay has been sold for $4,000,000. The property spans 2,731 square feet, resulting in a price per square foot of $1,464. The sale took place on 08/11/2022.

Summary of transaction details:

  • Property Type: Office condo
  • Transaction Amount: $4,000,000
  • Address: 866 United Nations Plaza
  • Market: Turtle Bay
  • Buyer: The U.S. Department of State - Cliff Seagroves
  • Seller: Carlyle Group - Jason Hart
  • Square Feet: 2,731
  • Price per Square Foot: $1,464

The U.S. Department of State, represented by Cliff Seagroves, acquired the office condominium from the Carlyle Group, represented by Jason Hart. No additional information is available.

Players

Jason Hart

Carlyle Group

Seller

$349.4M

vol

7 deals

Seller

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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93