Memorial Sloan Kettering Acquires Medical Center On Upper East Side For $185M
321 East 61st Street, New York City, New York 10065, United States
$185,000,000
$2,055/SF
Building Size
90,000 SF
Asset Type
Other
Closing
Sep 12, 2022
About this deal
AI
The medical center located at 321 East 61st Street in the Upper East Side has been sold for a staggering sale price of $185,000,000. The property spans across 90,000 square feet, with a price per square foot of $2,055. The transaction involved a total of 8 units, resulting in a price per unit of $23,125,000.
Summary of transaction details
- Property Type: Medical Center
- Transaction Amount: $185,000,000
- Address: 321 East 61st Street
- Market: Upper East Side
The buyer of the medical center is Memorial Sloan Kettering, represented by Kathryn Martin. On the other side of the deal, the sellers were Maddd Equities and Joy Construction, with Eli Wiess representing them.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93