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.
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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93