Minamoto Kitchoan Acquires Mixed-Use Property On 604 5th Avenue In Midtown For $44.96M
604 5th Avenue, New York, NY, USA
$44,960,000
$2,497/SF
Building Size
18,000 SF
Asset Type
Mixed-use
Closing
Apr 8, 2021
About this deal
AI
The mixed-use property located at 604 5th Avenue in Midtown has been sold in a recent transaction. The sale took place on April 9, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $44,960,000
- Address: 604 5th Avenue
- Market: Midtown
- Square Footage: 18,000
- Price per Square Foot: $2,497
The buyer of the property is Minamoto Kitchoan, while the seller is the Riese Organization. The deal was facilitated by brokers Adelaide Polsinelli from Compass and Michael Coghill from Adirondack Capital Partners.
On the Map
$44,960,000
$2,497/SF
Mixed-use
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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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93