Demir Sabanci Purchases Mixed-Use Property From Adam Parkoff For $31.5M In New York
SOLD
$31,500,000
New York
See Similar DealsMixed-use
Sold 11/11/2011
SOLD
Demir Sabanci Purchases Mixed-Use Property From Adam Parkoff For $31.5M In New York
7 West 51st St
See Similar DealsMixed-use
Sold 11/11/2011
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
The transaction involved a mixed-use property located at 7 West 51st St in New York. The asset was sold for a total price of $31,500,000.00, reflecting its market value and characteristics.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $31,500,000.00
- Address: 7 West 51st St
- Market: New York
- Buyer: Demir Sabanci
- Seller: Adam Parkoff
- Brokers: Josh Augenbaum - Augenbaum Realty
Demir Sabanci completed the purchase of the mixed-use property, with Adam Parkoff acting as the seller. The deal was facilitated by broker Josh Augenbaum, representing the interests involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,680,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85
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