Compass Represents Buyer In $101M Mixed-Use Sale On Fifth Avenue
576 5th Avenue, New York, NY 10036
$101,000,000
$1,761/SF
Building Size
57,352 SF
Asset Type
Mixed-use
Closing
Jul 12, 2020
AI
Severn Realty Partners has completed the sale of a mixed-use property located at 576 Fifth Avenue in Midtown. The transaction took place on July 12, 2021, with a sale price of $101,000,000. The property spans an area of 57,352 square feet, resulting in a price per square foot of $1,761.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $101,000,000
- Address: 576 Fifth Avenue
- Market: Midtown
The buyer's representatives in this transaction were Daniel Chun and Adelaide Polsinelli from Compass, while Paul Massey, Zach Redding, Dylan Kane, Daniel O'Mahony, and Christian Kane from B6 Real Estate represented the seller, Severn Realty Partners. The involvement of these key individuals and companies reflects their roles in facilitating the deal.
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
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93