SL Green Sells Midtown West Office Building On 11th Avenue For $95M
SOLD
$95,000,000
+ 4
New York
See Similar DealsOffice160,000 SF
Sold 12/14/2021
SOLD
SL Green Sells Midtown West Office Building On 11th Avenue For $95M
707 11th Avenue, New York City, New York 10019, United States
See Similar DealsOffice160,000 SF
Sold 12/14/2021
+ 4
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$593
Total Square Footage:160,000 SF
Transaction Type:Sale
The office building located at 707 11th Avenue in Midtown West has been sold for a price of $95,000,000. The property spans across 160,000 square feet, resulting in a price per square foot of $593.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $95,000,000
- Address: 707 11th Avenue
- Market: Midtown West
- Seller: Marc Holliday, Harrison Sitomer & Andrew Matthias - SL Green
- Brokers: Andrew Scandalios, David Giancola, Tyler Peck & Alexander Riguardi - JLL
- Square Footage: 160,000
- Price per Square Foot: $593
The sale was facilitated by brokers Andrew Scandalios, David Giancola, Tyler Peck, and Alexander Riguardi of JLL, representing the sellers Marc Holliday, Harrison Sitomer, and Andrew Matthias from SL Green.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$337,514.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$450,348.47
Annual Debt Service$5,404,181.60
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