Joseph McDonnell Of Cirrus Real Estate Partners Acquires Mixed-Use Property In TriBeCa For $35M
6 Harrison Street, Manhattan, New York, NY, USA
$35,000,000
$953/SF
Building Size
36,701 SF
Asset Type
Mixed-use
Closing
Nov 18, 2021
AI
A mixed-use property located at 6 Harrison Street in TriBeCa has been sold for a price of $35,000,000. The property spans a total of 36,701 square feet, resulting in a price per square foot of $953. The sale took place on November 18, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $35,000,000
- Address: 6 Harrison Street
- Market: TriBeCa
The buyer of the property is Joseph McDonnell, representing Cirrus Real Estate Partners. The buyer was assisted by Eric Michael Anton from Marcus & Millichap. On the seller's side, Nelson Lee, also from Marcus & Millichap, facilitated the transaction.
Korean equity for the purchase was sourced by Global Capital Group, as noted in 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93