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107 East 70th Street

Altneu Synagogue Acquires Office On Upper East Side For $34.5M
SOLDOffice

Altneu Synagogue Acquires Office On Upper East Side For $34.5M

107 East 70th Street

$34,500,000

$1,516/SF

Building Size

22,750 SF

Asset Type

Office

Closing

Mar 29, 2024

AI

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.

Players

Joshua Nazar

Venture Capital Properties

Broker

$67.9M

vol

5 deals

Broker

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

0.46%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93