Marcus Partners And Dalan Mgmt Acquire Midtown South Office Property For $54.5M
10 E 33rd St, New York, NY 10016, USA
$54,500,000
$1,831/SF
Building Size
29,757 SF
Asset Type
Office
Closing
Nov 28, 2020
About this deal
AI
Located in Midtown South, the office property at 10-12 East 33rd Street in New York has recently been involved in a closed transaction. The property spans 70,000 rsf and was sold for a price of $54,500,000, resulting in a price per square foot of $778.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $54,500,000
- RSF: 70,000
- PPSF: $778
The seller of the property was Dalan Management, while the buyer was a joint venture between Marcus Partners and Dalan Management itself. Leading the deal as the broker was Mo Beler, along with Glenn Tolchin, Anthony Ledesma, and Max Herzog from JLL NY Capital Markets.
On the Map
$54,500,000
$1,831/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93