SHVO Official, Bilgili Group, And Serdar Bilgili Acquire Mixed-Use Property On 5th Avenue For $955M
711 5th Ave, New York, NY 10022, USA
$955,000,000
$2,697/SF
Building Size
354,000 SF
Asset Type
Mixed-use
Closing
Sep 26, 2019
About this deal
AI
The mixed-use property located at 711 5th Avenue in Midtown has been sold in a closed transaction. The property spans 354,000 square feet and was sold for a price of $955,000,000. This translates to a price per square foot of $2,697.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $955,000,000
- Square Footage: 354,000
- Address: 711 5th Avenue
- Market: Midtown
The buyers in this transaction include @SHVOOfficial, Michael Shvo, and the Bilgili Group represented by Serdar Bilgili. They acquired the property from Nightingale Properties and Wafra Capital Partners. Both the buyers and sellers played important roles in this significant deal.
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
0.02%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93