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
About this deal
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.
On the Map
$1,188,888
Office
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New York Office Market Snapshot
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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