Updated Nov 28, 2024
TLM Equities Acquires Property From Affiliates Of CIM Group For $80M In New York
47 E 34th St, New York, NY, 10016
$80,000,000
Building Size
—
Asset Type
Commercial
Closing
Nov 19, 2023
About this deal
AI
The property located at 47 E 34th St, New York, NY, 10016 is a transaction in the New York market. The deal involves a total price of $80,000,000.00, with a square footage of 0. The seller of the property is Affiliates of CIM Group.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $80,000,000.00
- Address: 47 E 34th St, New York, NY, 10016
- Market: New York
- Seller: Affiliates of CIM Group
- Buyer: TLM Equities
- Seller's Representatives: Kevin Donner, Adam Doneger, Adam Spies, Avery Silverstein, Douglas (Doug) Harmon - Newmark
The buyer, TLM Equities, has acquired the property as part of their investment strategy. The transaction was facilitated by a team of representatives from Newmark, highlighting their role in connecting the buyer with the seller during the negotiation process.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93