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:
- Property Type: Office Condo
- Transaction Amount: $27,000,000.00
- Square Footage: 45,000
- Address: 633 3rd Ave, New York, NY, 10017
- Seller: Mount Sinai Health System
- Buyer: Marcus & Pollack LLP
- Seller's Representatives: Andrew Braver (Cushman & Wakefield), Barry Zeller (Cushman & Wakefield)
- Buyer's Representatives: Michael Rudder (Rudder Property Group), Michael Heller (Rudder Property Group)
- Brokers Involved: Jonathan Serko (Cushman & Wakefield)
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
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