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Tribeca Venture Partners, 9...

Olshan Properties Acquires Office Condo In TriBeCa For $7.3M
SOLD

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

Michael Rudder

Rudder Property Group

Broker

$198.3M

vol

23 deals

Broker
OP
Olshan PropertiesBuyer

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