Patrick Wong Acquires Office Condo At 633 Third Avenue In Midtown East For $1.19M
SOLD
$1,188,888
New York
See Similar DealsOffice
Sold 12/04/2021
SOLD
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
See Similar DealsOffice
Sold 12/04/2021
Summary
NEW YORK
Asset Type:Office
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$63,407.36
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,223.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,635.94
Annual Debt Service$67,631.23
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