Sierra Real Estate Acquires Office Building In Herald Square/Manhattan For $255,824
875 6th Ave, New York, NY 10001, USA
Building Size
4,336 SF
Asset Type
Office
Closing
Aug 8, 2018
About this deal
AI
The office building located at 875 Sixth Avenue in Herald Square, Manhattan was involved in a closed property transaction. The property is an office space, with a total square footage of 4,336. The transaction took place on August 9, 2018.
Summary of transation details
- Property Type: Office
- Transaction Amount: $255,824
- Price per Square Foot: $59
F. Schumacher, a tenant, was involved in the transaction. The landlord of the property is Sierra Real Estate, a subsidiary of @leeandassociates. Both the tenant and the landlord were represented by Peter Braus and Dennis Someck from @leeandassociates.
On the Map
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93