Hospital For Special Surgery Acquires Office In Lenox Hill For $42M
SOLD
New York
See Similar DealsOffice34,402 SF
Sold 11/24/2020
SOLD
Hospital For Special Surgery Acquires Office In Lenox Hill For $42M
506 East 74th Street, Manhattan, New York, NY, USA
See Similar DealsOffice34,402 SF
Sold 11/24/2020
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,220
Total Square Footage:34,402 SF
Transaction Type:Sale
The office property located at 506 East 74th Street in Lenox Hill has been sold for $42,000,000. The property spans 34,402 square feet, resulting in a price per square foot of $1,220. The asset is zoned as M1-4 and R10.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $42,000,000
- Address: 506 East 74th Street
- Market: Lenox Hill
- Zoning: M1-4, R10
The buyer of the property is the Hospital for Special Surgery, represented by Stacey Malakoff. The seller is Haug Realty Corp., represented by Hedi H White.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,239,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$149,217.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$199,101.43
Annual Debt Service$2,389,217.13
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