A&E Real Estate Acquires Mixed-Use Property In Sutton Place For $130M
400 East 57th Street, New York, NY 10022, USA
$130,000,000
$447/SF
Building Size
290,403 SF
Asset Type
Mixed-use
Closing
Mar 31, 2021
About this deal
AI
The mixed-use property located at 400 East 57th Street in Sutton Place was recently sold in a transaction valued at approximately $130,000,000. The property spans 290,403 square feet and consists of 263 units. The sale took place in April 2021.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $130,000,000 (Approx.)
- Address: 400 East 57th Street
- Market: Sutton Place
A&E Real Estate, represented by James Patchett, acquired the property, while the seller was @SLGreen_Realty, represented by Marc Holliday and Andrew Matthias. The deal was facilitated by brokers Marc Sznajderman, Andrew Sasson, and Chad Sinsheimer from Cushman & Wakefield.
It's worth noting that A&E Real Estate is in contract to purchase @SLGreen_Realty's 41% stake in 400 E. 57th St., which contributed to the valuation of the property at approximately $130 million.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Marc Sznajderman to view all their deals.
Browse New York mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93