Patrick Wong Acquires Office Condo At 633 Third Avenue In Midtown East For $1.19M
633 3rd Avenue, New York City, New York 10017, United States
$1,188,888
Building Size
—
Asset Type
Office
Closing
Dec 4, 2021
AI
An office condo located at 633 Third Avenue in Midtown East has been sold in a recent transaction. The property, with a total square footage of 1,249, was sold for a price of $1,188,888, resulting in a price per square foot of $950. The sale took place on 12/04/2021 and the transaction involved the buyer, Patrick Wong, and the seller, Ivan Baben.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $1,188,888
- Address: 633 Third Avenue
- Market: Midtown East
- Square Footage: 1,249
- Price per Square Foot: $950
The transaction was facilitated by Mark Roopchan from Prime Manhattan Realty, who represented both the buyer, Patrick Wong, and the seller, Ivan Baben.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.34%
Cash-on-Cash
-3.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93