Porven Real Estate Acquires Office Building In Manhattan For $42.5M
204 5th Ave, New York, NY 10010, USA
Building Size
14,538 SF
Asset Type
Office
Closing
Jan 21, 2018
About this deal
AI
Deborah Harmon and Silvestre Segarra Segarra have closed a transaction for an office property located at 204 5th Avenue in Manhattan, New York. The property spans 14,538 square feet and was sold for a price of $42,500,000, resulting in a price per square foot of $2,923.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $42,500,000
- Address: 204 5th Avenue, New York
- Market: Manhattan
- Seller: Artemis Partners - Deborah Harmon
- Buyer: Porven Real Estate (a subsidiary of Porcelanosa) - @porcelanosa_usa CEO Silvestre Segarra Segarra
Porven Real Estate, a subsidiary of Porcelanosa, acquired the office property from Artemis Partners, represented by Deborah Harmon. Silvestre Segarra Segarra, the CEO of Porcelanosa, played a key role in the transaction as the buyer's representative.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93