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
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