Olshan Properties Acquires Office Condo In TriBeCa For $7.3M
Tribeca Venture Partners, 99 Hudson St, New York, NY, USA
$7,275,000
$741/SF
Building Size
9,816 SF
Asset Type
—
Closing
Apr 29, 2021
AI
Olshan Properties has acquired an office condo located at 99 Hudson St. (Partial 12th Floor) in TriBeCa. The property, spanning 9,816 square feet, was sold by CM&F Group for a total of $7,275,000. With a price per square foot of $741, this transaction marks a significant investment in the TriBeCa office market.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $7,275,000
- Address: 99 Hudson St. (Partial 12th Floor)
- Market: TriBeCa
Represented by @MichaelRudder and Justin Harris from Rudder Property Group, Olshan Properties successfully completed the acquisition. This deal not only demonstrates their commitment to expanding their investment portfolio but also highlights their confidence in the potential of the TriBeCa office market.
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
2.18%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93