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23 Old Kings Highway South ...

CBRE Sells 23 Old Kings Highway Office Building In Darien, CT For $4.3M
SOLDOffice

CBRE Sells 23 Old Kings Highway Office Building In Darien, CT For $4.3M

23 Old Kings Highway South Darien, Connecticut 06820, USA

$4,300,000

$167/SF

Building Size

25,713 SF

Asset Type

Office

Closing

Aug 21, 2023

AI

The boutique office building located at 23 Old Kings Highway in Darien, CT has been sold for a price of $4.3 million. This property, which spans 25,713 square feet, is currently 86% leased. The sale price per square foot is approximately $167.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $4,300,000
  • Address: 23 Old Kings Highway, Darien, CT
  • Market: Darien, CT
  • Square Footage: 25,713
  • Price per Square Foot: $167

The sale of this office building involved the following brokers from CBRE: Daniel Blumenkrantz, Jeffrey Dunne, Steven Bardsley, and Travis Langer. They played a crucial role in facilitating the transaction and ensuring a successful deal.

Players

Steven Bardsley

CBRE

Broker

$1.9B

vol

47 deals

Broker

Darien Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.69%

Cash-on-Cash

-1.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93