David L Picket Acquires Medical Facility On 10th Avenue In Clinton-Hell's Kitchen, Manhattan For $79M
550 10th Avenue, New York, NY, USA
$79,018,031
$183/SF
Building Size
430,000 SF
Asset Type
Mixed-use
Closing
Nov 11, 2021
About this deal
AI
A medical facility located at 550 10th Avenue in Clinton - Hell's Kitchen, Manhattan has been sold for a price of $79,018,031. The property has a building square footage (BSF) of 159,390 and a price per BSF (PPBSF) of $496. The total square footage (SF) of the facility is 98,830, with a price per SF (PPSF) of $800. The property has a floor area ratio (FAR) of 6.20 and is classified under tax class 4. It has a lot size of 15,939 and was last sold on April 15, 2019, for a price of $10. The lot dimension is 197.6 feet by 100 feet.
Summary of transaction details
- Property Type: Medical Facility
- Transaction Amount: $79,018,031
- Market: Clinton - Hell's Kitchen, Manhattan
- Zoning: C2-8, HY
The buyer of the property is David L Picket, while the seller is Deirdre Cronin.
Players
New Hyde Park 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93