Hospital For Special Surgery Acquires Office In Lenox Hill For $42M
506 East 74th Street, Manhattan, New York, NY, USA
$42,000,000
$1,220/SF
Building Size
34,402 SF
Asset Type
Office
Closing
Nov 23, 2020
About this deal
AI
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.
On the Map
$42,000,000
$1,220/SF
Office
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Players
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Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93