Ralph Sitt's Status Capital Acquires Retail Condo At The Marquand In Manhattan For $85M
SOLD
$84,999,999
+ 3
New York
See Similar DealsRetail11,000 SF
Sold 11/29/2020
SOLD
Ralph Sitt's Status Capital Acquires Retail Condo At The Marquand In Manhattan For $85M
11 E 68th St, New York, NY 10065, USA
See Similar DealsRetail11,000 SF
Sold 11/29/2020
+ 3
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$7,727
Total Square Footage:11,000 SF
Transaction Type:Sale
The Marquand, a retail condominium located at 11 East 68th Street in Manhattan, has been sold for a price of $85,000,000. The property spans 11,000 square feet and has a price per square foot of $7,727.
Summary of transaction details
- Property Type: Retail Condominium
- Transaction Amount: $85,000,000
- Address: 11 East 68th Street
- City: New York
- Market: Manhattan
- Square Footage: 11,000 sf
- Price per Square Foot: $7,727
The seller of The Marquand was Vornado Realty Trust, while the buyer was Ralph Sitt's Status Capital. The deal was facilitated by Cushman & Wakefield's Adam Spies, Doug Harmon, Kevin Donner, Adam Doneger, and Marcella Fasulo.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,533,333.30
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$301,987.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$402,943.36
Annual Debt Service$4,835,320.32
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