Harry Macklowe Purchases Office At 17 East 47th St From Peter Park And Tony Park For $16.5M
SOLD
$16,500,000
New York
See Similar DealsOffice17,131 SF
Sold 12/04/2018
SOLD
Harry Macklowe Purchases Office At 17 East 47th St From Peter Park And Tony Park For $16.5M
17 East 47th St
See Similar DealsOffice17,131 SF
Sold 12/04/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$963
Total Square Footage:17,131 SF
Lot Square Footage:2500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$880,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01
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