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633 Third Avenue, Manhattan...

Republic Of Austria Acquires Office Condo In Murray Hill For $10.7M
SOLDMixed-use

Republic Of Austria Acquires Office Condo In Murray Hill For $10.7M

633 Third Avenue, Manhattan, New York, NY, USA

$10,741,000

$575/SF

Building Size

18,680 SF

Asset Type

Mixed-use

Closing

Dec 28, 2020

AI

The property involved in this closed transaction is an office condo located at 633 Third Avenue in Murray Hill. The property has a total of 18,680 square feet and was sold for a price of $10,741,000, resulting in a price per square foot of $575.

Summary of transaction details:

  • Property Type: Office condo
  • Transaction Amount: $10,741,000
  • Address: 633 Third Avenue
  • Market: Murray Hill

The buyer of the property is the Republic of Austria, while the Partnership to End Addiction served as the seller. The buyer was represented by Ira Schuman and Stephan Steiner from Savills, and the seller was represented by Josh Kuriloff, Craig Waggner, John Ciraulo, JP Will, and Matthias Li from Cushman & Wakefield.

Players

John Ciraulo

Cushman & Wakefield

Broker

$747.3M

vol

48 deals

Broker

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

1.48%

Cash-on-Cash

-0.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93