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945 Madison Avenue

Sothebys Acquires Mixed-Use Property On Upper East Side For $100M
SOLDMixed-use

Sothebys Acquires Mixed-Use Property On Upper East Side For $100M

945 Madison Avenue

$100,000,000

$1,315/SF

Building Size

76,000 SF

Asset Type

Mixed-use

Closing

Jul 5, 2023

AI

945 Madison Avenue, located in the Upper East Side market, has been sold in a closed transaction. The mixed-use property, spanning 76,000 square feet, was purchased by Sothebys from the Whitney Museum. The sale price for this transaction was recorded at $100,000,000, resulting in a price per square foot of $1,316.

Summary of transaction details:

  • Property Type: Mixed-Use
  • Transaction Amount: $100,000,000
  • Address: 945 Madison Avenue
  • Market: Upper East Side
  • Buyer: Sothebys
  • Seller: Whitney Museum
  • Brokers: Doug Middleton, Mary Ann Tighe, and Lauren Crowley - CBRE
  • Square Footage: 76,000
  • Price per Square Foot: $1,316

Doug Middleton, Mary Ann Tighe, and Lauren Crowley from CBRE represented the buyer and seller in this transaction, serving as the brokers involved in the deal.

Players

Doug Middleton

CBRE

Broker

$7.1B

vol

39 deals

Broker
S
SothebysBuyer

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

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93