Michael J. Ferrara Sells NoMad Office Building For $52.5M
260 5th Avenue NoMad
$52,500,000
$877/SF
Building Size
59,858 SF
Asset Type
Office
Closing
May 7, 2020
About this deal
AI
260 5th Avenue, located in NoMad, was recently sold in a closed transaction. The property, which is an office asset, was sold on 05/07/2021. The sale price for this transaction was $52,500,000, and the property spans across 59,858 square feet, resulting in a price per square foot of $877.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $52,500,000
- Address: 260 5th Avenue
- Market: NoMad
Andrew Zang and Greg Albert of avills represented the buyer in this transaction, while Michael J. Ferrara of raxRealtyNYC served as the seller's representative.
On the Map
$52,500,000
$877/SF
Office
View full map
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Michael Ferrara to view all their deals.
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93