Midtown Developers Acquires Mixed-use Property In Murray Hill For $20.05M
SOLD
$20,050,000
New York
See Similar DealsMixed-use22,000 SF
Sold 06/30/2022
SOLD
Midtown Developers Acquires Mixed-use Property In Murray Hill For $20.05M
567 3rd Avenue, New York, NY 10016
See Similar DealsMixed-use22,000 SF
Sold 06/30/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$911
Total Square Footage:22,000 SF
Transaction Type:Sale
The mixed-use property located at 567, 579 & 571 3rd Ave. in Murray Hill has been sold for a total price of $20,050,000. The property spans across 22,000 square feet, resulting in a price per square foot of $911.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $20,050,000
- Address: 567, 579 & 571 3rd Ave., Murray Hill
- Market: Murray Hill
- Buyer: Midtown Developers
- Seller: Cypress Management
- Square Footage: 22,000
- Price per Square Foot: $911
Midtown Developers acted as the buyer in this transaction, while Cypress Management served as the seller. This deal marks a successful collaboration between both parties, demonstrating their commitment to the property's sale.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,069,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,233.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,047.23
Annual Debt Service$1,140,566.75
Is there something missing? Send suggestions