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17 East 47th St

Harry Macklowe Purchases Office At 17 East 47th St From Peter Park And Tony Park For $16.5M
SOLDOffice

Harry Macklowe Purchases Office At 17 East 47th St From Peter Park And Tony Park For $16.5M

17 East 47th St

$16,500,000

$963/SF

Building Size

17,131 SF

Asset Type

Office

Closing

Dec 4, 2018

AI

The property asset involved in the transaction is an office located at 17 East 47th St, New York. The transaction occurred at a price of $16,500,000.00 for a total square footage of 17,131.0. The asset type is categorized as office space in the New York market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $16,500,000.00
  • Address: 17 East 47th St
  • Market: New York
  • Square Footage: 17,131.0
  • Buyer: Harry Macklowe
  • Seller: Peter Park and Tony Park
  • Brokers: Will Conrad - Cushman & Wakefield

This transaction highlights the involvement of key individuals, including Harry Macklowe as the buyer and Peter Park along with Tony Park as the sellers. Will Conrad of Cushman & Wakefield represented the broker side in the deal, facilitating the transaction between the parties involved.

Players

Will Conrad

Cushman & Wakefield

Broker

$263.3M

vol

26 deals

Broker

Harry Macklowe

Buyer

$488.6M

vol

8 deals

Buyer

Peter Park

Seller
Seller

Tony Park

Seller
Seller

Tony Park

Seller
Seller

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

0.96%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93