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633 3rd Ave, New York, NY, ...

Marcus & Pollack LLP Acquires Property From Mount Sinai Health System For $27M In New York
SOLDOffice

Marcus & Pollack LLP Acquires Property From Mount Sinai Health System For $27M In New York

633 3rd Ave, New York, NY, 10017

$27,000,000

$600/SF

Building Size

45,000 SF

Asset Type

Office

Closing

Sep 1, 2015

AI

Mount Sinai Health System sold a 45,000 square foot office condo located at 633 3rd Ave, New York, NY, for $27,000,000.00 within the New York market.

Summary of transation details:

Cushman & Wakefield represented Mount Sinai Health System in this transaction, with multiple brokers included in the representation. Michael Rudder and Michael Heller from Rudder Property Group represented the buyer, Marcus & Pollack LLP.

Players

Michael Heller

Broker

$75.7M

vol

3 deals

Broker
Marcus Partners
Marcus PartnersBuyer

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

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93