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Hirschfeld Properties Acquires Office Building On Upper East Side For $28.5M

Property Image
SOLD
$28,500,000
Jared Rahmanan
Bunny Escava
Daniel Myers

New York

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Office386,550 SF
Sold 12/11/2019
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Property Image
SOLD

Hirschfeld Properties Acquires Office Building On Upper East Side For $28.5M

207 E 94th St #213, New York, NY 10128, USA

See Similar Deals
Office386,550 SF
Sold 12/11/2019
Jared Rahmanan
Bunny Escava
Daniel Myers
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$73
Total Square Footage:386,550 SF
Transaction Type:Sale

The office property located at 207-213 East 94th Street in the Upper East Side has been sold for a total price of $28,500,000. This property spans a total area of 38,655 square feet, resulting in a price per square foot of $737.29. The transaction took place on 12/11/2019.

Summary of transaction details:

  • Property Type: Office
  • Sale Price: $28,500,000
  • Square Footage: 38,655 SF
  • Price Per Square Foot: $737.29
  • Address: 207-213 East 94th Street, Upper East Side

The seller of the property is Glenwood Management Corp, represented by Carole Pittelman. On the other hand, the buyer is Hirschfeld Properties, represented by Elie Hirschfeld. The buyer's representative in this deal is Dan Myers, while the seller's representatives are Bunny Escava and Jared Rahmanan.

Players

Bunny Escava
Kassin Sabbagh Realty
Bunny Escava
44 deals$1.2B volume(917) 886-7545
BROKER
Daniel Myers
Daniel Myers
3 deals$74M volume
BROKER
Jared Rahmanan
Institutional Property Advisors
Jared Rahmanan
1 deal$28.5M volume
BROKER

Details

SOLD
IMAGE: Jared Rahmanan, Bunny Escava, Dan Myers DATE: 12/11/2019 ADDRESS: 207-213 East 94th Street MARKET: Upper East Side ASSET TYPE: Office SALE PRICE: $28,500,000 SF: 38,655 PPSF: $737.29 SELLER: Glenwood Management Corp – Carole Pittelman BUYER: Hirschfeld Properties – Elie Hirschfeld BUYER’S REP: Dan Myers. Seller’s Rep: Bunny Escava, Jared Rahmanan

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,519,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$101,254.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,104.54
Annual Debt Service$1,621,254.48