L&L Holding Company Acquires Mixed-Use Office Retail Property On Madison Avenue In New York City For $153M
635 Madison Ave, New York, NY 10022, USA & 635 Madison Ave, New York, NY 10022, USA
$150,000,000
$424/SF
Building Size
176,530 SF
Asset Type
Mixed-use
Closing
May 9, 2018
About this deal
AI
Adam Spies, Doug Harmon, and Robert Lapudis have closed a property transaction at 635 Madison Avenue in Midtown, New York. The mixed-use office and retail asset was sold for a price of $153 million. The property spans across 176,530 square feet, resulting in a price per square foot of $866.
Summary of Transaction Details
- Property Type: Mixed-Use Office Retail
- Transaction Amount: $153 million
- Address: 635 Madison Avenue, Midtown, New York
- Market: Midtown
The seller in this transaction was SL Green Realty, while the buyer was L&L Holding Company. Adam Spies, Doug Harmon, Josh King, and Kevin Donner from CushWake represented the buyer in the deal.
On the Map
$150,000,000
$424/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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93