Vornado Realty Trust Acquires Office Building In Midtown East, Manhattan For $40M
39 East 51st Street
$40,000,000
$3,645/SF
Building Size
10,974 SF
Asset Type
Office
Closing
Jun 20, 2023
About this deal
AI
Vornado Realty Trust, in partnership with Rudin Management through V-R 350 Park LLC, has acquired the office building located at 39 East 51st Street in Midtown East, Manhattan. The property was sold by Rudin Management for $40 million. The office building spans 10,974 square feet, resulting in a price per square foot of $3,645.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $40,000,000
- Street Address: 39 East 51st Street
- Market: Midtown East, Manhattan
The buyer in this transaction is Vornado Realty Trust, with Steven Borenstein representing the trust. The seller is Rudin Management, with Stuart Zlotolow as the company's representative.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Rudin Management Company to view all their deals.
Browse New York office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93