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
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