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420 5th Avenue

Lea Voytovich & Albert Sultan Facilitate $13.75M Sale Of Office In Midtown Manhattan
SOLDOffice

Lea Voytovich & Albert Sultan Facilitate $13.75M Sale Of Office In Midtown Manhattan

420 5th Avenue

$13,750,000

$763/SF

Building Size

18,003 SF

Asset Type

Office

Closing

Apr 5, 2024

AI

The office property located at 420 Fifth Avenue - 15th Floor in Midtown Manhattan was recently sold for $13,750,000. Spanning 18,003 square feet, the property was transacted at a price per square foot of $764.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $13,750,000
  • Address: 420 Fifth Avenue - 15th Floor
  • Market: Midtown Manhattan
  • SF: 18,003
  • PPSF: $764
  • Brokers: Lea Voytovich & Albert Sultan - KSR

Lea Voytovich and Albert Sultan from KSR represented the parties involved in the transaction as the brokers enlisted to facilitate the sale of the office property.

Players

Albert Sultan

Kassin Sabbagh Realty

Broker

$766M

vol

17 deals

Broker

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

1.15%

Cash-on-Cash

-0.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93