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111 East 59th Street

Updated Dec 4, 2024

Tyler Shea Acquires Office Building On 111 East 59 Street In Lenox Hill, Manhattan For $5M
SOLDOffice

Tyler Shea Acquires Office Building On 111 East 59 Street In Lenox Hill, Manhattan For $5M

111 East 59th Street

$5,000,000

$29/SF

Building Size

170,511 SF

Asset Type

Office

Closing

Sep 28, 2023

About this deal

AI

The office property located at 111 East 59 Street in Lenox Hill, Manhattan has been sold. The transaction took place on 9/28/2023, with a sale price of $5,000,000. The property has a total building square footage (BSF) of 144,600, with a price per BSF of $35. The total square footage (SF) of the office is 170,511, with a price per SF of $29.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,000,000
  • Address: 111 East 59 Street, Lenox Hill, Manhattan
  • Market: Lenox Hill, Manhattan
  • Buyer: Tyler Shea
  • Seller: Hayley Greenberg
  • BSF: 144,600
  • PPBSF: $35
  • SF: 170,511
  • PPSF: $29

The buyer of the property is Tyler Shea, while the seller is Hayley Greenberg. These individuals were the key players in the transaction. No additional information is available regarding their roles or relationships in this deal.

Players

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $29 per square foot on a published $5M for 170,511 square feet (2023).

Browse New York office sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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