Ralph Sitt's Status Capital Acquires Retail Condo At The Marquand In Manhattan For $85M
11 E 68th St, New York, NY 10065, USA
$84,999,999
$7,727/SF
Building Size
11,000 SF
Asset Type
Retail
Closing
Nov 28, 2020
AI
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
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93