SL Green Realty Corp. Sells Office Building On Fifth Ave. In Midtown East For $100.5M
609 5th Avenue, New York City, New York 10017, United States
$100,500,000
$723/SF
Building Size
139,000 SF
Asset Type
Office
Closing
Jun 5, 2022
About this deal
AI
SL Green Realty Corp. has sold an office property located at 609 Fifth Ave. in Midtown East. The property, spanning 139,000 square feet, was sold for a price of $100,500,000, resulting in a price per square foot of $723. The sale was finalized on June 6, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $100,500,000
- Square Feet: 139,000
- Address: 609 Fifth Ave.
- Market: Midtown East
Marc Holliday served as the representative of SL Green Realty Corp. in the transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93