Republic Of Palau Acquires Mixed-Use Property On East 50th St. For $3.73M
SOLD
$3,730,000
New York
See Similar DealsMixed-use3,340 SF
Sold 09/14/2022
SOLD
Republic Of Palau Acquires Mixed-Use Property On East 50th St. For $3.73M
409 East 50th Street
See Similar DealsMixed-use3,340 SF
Sold 09/14/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,116
Total Square Footage:3,340 SF
Transaction Type:Sale
The mixed-use property located at 409 E. 50th St. in Midtown East has been sold in a recent transaction. The property spans 3,340 square feet and was sold for a price of $3,730,000, resulting in a price per square foot of $1,116.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,730,000
- Address: 409 E. 50th St.
- Market: Midtown East
The buyer in this transaction is the Republic of Palau, represented by Ilana Seid. The seller is Tommasa Asta. Anthony Celifarco, a broker, facilitated the deal.
Notably, the property will be converted into the new embassy for the Republic of Palau. Anthony Celifarco worked directly with the seller, the President of Palau, and his team of ambassadors and attorneys throughout the transaction.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$198,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,251.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,682.10
Annual Debt Service$212,185.24
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