Republic Of Austria Acquires Office Condo In Murray Hill For $10.7M
SOLD
$10,741,000
+ 4
New York
See Similar DealsMixed-use18,680 SF
Sold
SOLD
Republic Of Austria Acquires Office Condo In Murray Hill For $10.7M
633 Third Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use18,680 SF
Sold
+ 4
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$575
Total Square Footage:18680 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$572,853.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$38,160.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,917.82
Annual Debt Service$611,013.84
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