Akelius Real Estate Management Acquires Stonehenge Partners' Rental Building On Fifth Avenue For $44.1M
1274 5th Ave, New York, NY 10029, USA
Building Size
567,000 SF
Asset Type
Other
Closing
Feb 24, 2018
About this deal
AI
A rental building located at 1274 Fifth Avenue in New York City has recently been sold for a price of $44,100,000. The property, spanning 56,700 square feet, consists of 54 units. The transaction took place in the Manhattan market, specifically at 108th Street and 5th Avenue. The price per square foot for this deal was $777.
Summary of transaction details:
- Property Type: Rental Building
- Transaction Amount: $44,100,000
- Address: 1274 Fifth Avenue, New York
- Market: Manhattan (108th Street & 5th Avenue)
- Square Footage: 56,700 sf
- Price per Square Foot: $777
- Units: 54
The seller of the property was Ofer Yardeni’s Stonehenge Partners in collaboration with SL Green Realty. On the other hand, Akelius Real Estate Management acted as the buyer in this transaction.
It is worth noting that Stonehenge Partners had initially acquired the property for $11.9 million.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93