Torchlight Investors Acquires 445 Fifth Avenue Condo In Grand Central, Manhattan For $40M
445 5th Ave, New York, Ny 10016, United States
$40,000,000
$2,367/SF
Building Size
16,899 SF
Asset Type
Condo
Closing
Aug 23, 2023
About this deal
AI
Torchlight Investors, represented by Gianluca Montalti, has acquired a condo at 445 5th Avenue in Grand Central, Manhattan. The property, valued at $40 million, spans over 16,899 square feet. The purchase price per square foot stands at $2,367.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $40,000,000
- Address: 445 5th Avenue
- Market: Grand Central, Manhattan
Torchlight Investors, under the representation of Gianluca Montalti, acquired the condo from Harbor Group International, with T. Richard Litton Jr. serving as their representative. Lender Torchlight Investors, operating as Dof VI 445 Fifth, LLC, facilitated the purchase of these three retail condos. This transaction marks the transfer of ownership from the former borrower, Harbor Group International, to Torchlight Investors, with the asset's value reflecting $40 million.
On the Map
$40,000,000
$2,367/SF
Condo
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Players
Houma Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $2.4K per square foot on a published $40M for 16,899 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93