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
About this deal
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.
On the Map
$70,000,000
Mixed-use
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Players
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