Ivan Babenko Acquires Office Condo At 633 Third Avenue In Midtown East For $12.5M
633 3rd Ave, New York, NY 10017, USA
$12,500,000
$631/SF
Building Size
19,798 SF
Asset Type
Office
Closing
Apr 19, 2020
About this deal
AI
The office condo located at 633 Third Avenue in Midtown East has been sold in a closed transaction. The property, spanning the entire 19th floor, was purchased by Ivan Babenko for a total of $12,500,000. The office space measures 19,798 square feet, resulting in a price per square foot of $631.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $12,500,000
- Address: 633 Third Avenue – Entire 19th Floor
- Market: Midtown East
The seller of the property was The National Center on Addiction & Substance Abuse. The transaction was facilitated by Craig Waggner, John Ciraulo, JP Will, and Mike Kavanagh & Zachary Larsen, who represented the seller in the deal.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
About $631 per square foot on a published $12.5M for 19,798 square feet (2020).
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93