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
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.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93