Altneu Synagogue Acquires Office On Upper East Side For $34.5M
SOLD
$34,500,000
New York
See Similar DealsOffice22,750 SF
Sold
SOLD
Altneu Synagogue Acquires Office On Upper East Side For $34.5M
107 East 70th Street
See Similar DealsOffice22,750 SF
Sold
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1516
Total Square Footage:22750 SF
Transaction Type:Sale
The property at 107 East 70th Street in the Upper East Side was recently sold. The asset, an office space, was sold for $34,500,000. The building spans 22,750 square feet, resulting in a price per square foot of $1,516.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $34,500,000
- Address: 107 East 70th Street
- Market: Upper East Side
- Buyer: The Altneu Synagogue
- Seller: Visiting Nurse Service Of New York
- Broker: Joshua Nazar - Venture Capital Properties
The deal was facilitated by Joshua Nazar from Venture Capital Properties. The buyer was The Altneu Synagogue, and the seller was Visiting Nurse Service Of New York. Joshua Nazar played a key role in negotiating the sale of this office property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,840,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$122,571.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$163,547.60
Annual Debt Service$1,962,571.21
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