Ralph Sitt Acquires Mixed-Use Property At 711 Madison Ave From Ziggy Rutan For $47M
SOLD
$47,000,000
New York
See Similar DealsMixed-use
Sold 12/01/2013
SOLD
Ralph Sitt Acquires Mixed-Use Property At 711 Madison Ave From Ziggy Rutan For $47M
711 Madison Ave
See Similar DealsMixed-use
Sold 12/01/2013
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
The property asset involved in the transaction is a mixed-use asset located at 711 Madison Ave, New York. The sale occurred on 12/01/2013, with a transaction amount of $47,000,000.00.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $47,000,000.00
- Address: 711 Madison Ave
- Market: New York
- Buyer: Ralph Sitt
- Seller: Ziggy Rutan
- Brokers: Robert Khodadadian (Skyline Properties)
The key individuals in this deal include the buyer Ralph Sitt and the seller Ziggy Rutan, both of whom played significant roles in the transaction. Robert Khodadadian from Skyline Properties represented the seller in this deal.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,506,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$166,981.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$222,803.98
Annual Debt Service$2,673,647.74
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