Daily limit: 0/10
Citadel Enterprise Americas Acquires 350 Park Avenue Office Building In Midtown East For $10M
SOLD
$10,000,000
New York
See Similar DealsOffice
Sold 12/19/2023
SOLD
Citadel Enterprise Americas Acquires 350 Park Avenue Office Building In Midtown East For $10M
350 Park Avenue
See Similar DealsOffice
Sold 12/19/2023
Summary
NEW YORK
Asset Type:Office
Transaction Type:Sale
Kenneth Griffin's Citadel Enterprise Americas has acquired the office property located at 350 Park Avenue in Midtown East through an air rights and easement agreement. The agreement was made with RFR Holding, represented by Aby Rosen, for a total purchase price of $10 million. The property is set to be home to a 1.7 million-square-foot supertall office building.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $10,000,000
- Address: 350 Park Avenue, Midtown East
RFR Holding, led by Aby Rosen, sold the property to Citadel Enterprise Americas, represented by Kenneth Griffin, in the air rights and easement agreement. This deal marks a significant transaction in the Midtown East market, furthering the development of the supertall office building at 350 Park Avenue.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
Is there something missing? Send suggestions