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
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
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