Sander Tice Sells Office Asset In Flatiron District For $13.2 Million With Brokers Michael Ferrara & Cole Kinney Leonhardt
174 5th Avenue
$13,200,000
$611/SF
Building Size
21,588 SF
Asset Type
Office
Closing
Aug 25, 2025
About this deal
AI
The property involved in this transaction is an office asset located at 174 5th Avenue in the Flatiron District. The property was sold for $13,200,000, encompassing a total of 21,588 square feet, resulting in a price per square foot of $611.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $13,200,000
- Square Footage: 21,588 SF
- Price Per Square Foot: $611
- Seller: Sander Tice
- Brokers: Michael Ferrara & Cole Kinney Leonhardt - Brax Realty
- Date of Transaction: 8/26/2025
- Market: Flatiron District
Key individuals in this transaction include the seller, Sander Tice, and the brokerage team of Michael Ferrara and Cole Kinney Leonhardt, who represented the seller in the deal through their agency, Brax Realty.
On the Map
$13,200,000
$611/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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93