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309 East 94th Street, New Y...

Taconic Partners, Nuveen Real Estate, And Flatiron Equities Acquire Office Buildings In Upper East Side For $70M
SOLDMixed-use

Taconic Partners, Nuveen Real Estate, And Flatiron Equities Acquire Office Buildings In Upper East Side For $70M

309 East 94th Street, New York City, New York 10128, United States

$70,000,000

Building Size

Asset Type

Mixed-use

Closing

Dec 21, 2021

AI

The office property located at 309 East 94th Street and 324 East 95th Street in the Upper East Side has been sold in a transaction valued at $70,000,000. The property is situated in a desirable market, offering a prime location for office spaces.

Summary of Transaction Details

  • Property Type: Office
  • Transaction Amount: $70,000,000
  • Address: 309 East 94th Street & 324 East 95th Street
  • Market: Upper East Side

Taconic Partners, represented by Paul Pariser and Chris Balestra, along with Nuveen Real Estate, represented by Mike Sales and Flatiron Equities, have acquired the property from Karten Realty, owned by The Karten Family. This strategic investment showcases the confidence and vision of the buyers in the office market of the Upper East Side.

Players

Evan Pariser

JLL

Broker

$2.2B

vol

14 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93