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
About this deal
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.
On the Map
$16,500,000
$963/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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93