Memorial Sloan Kettering Cancer Center Acquires Property From SL Green Realty Corp For $300.4M
877 3rd Ave, New York, NY, 10022
$300,400,000
$725/SF
Building Size
414,317 SF
Asset Type
—
Closing
Sep 14, 2022
About this deal
AI
The property asset involved in this transaction is located at 877 3rd Ave, New York, NY, 10022. This asset was sold for a total price of $300,400,000.00 and comprises a total square footage of 414,317 in the New York market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $300,400,000.00
- Address: 877 3rd Ave, New York, NY, 10022
- Market: New York
- Seller: SL Green Realty Corp.
- Buyer: Memorial Sloan Kettering Cancer Center
- Seller's Representatives: Brian Waterman-Newmark, Cole Gendels-Newmark, Erik Harris-Newmark
- Brokers: Jason Perla-Newmark
This deal was facilitated by multiple representatives from Newmark, including Brian Waterman, Cole Gendels, and Erik Harris, who acted on behalf of the seller. Jason Perla also represented the brokers, coordinating the transaction for both parties involved.
On the Map
$300,400,000
$725/SF
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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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93