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Kim, Song & Associates Acquires Office Building At 25 W. 31st St. In Midtown South For $4.75M

Property Image
SOLD
$4,750,000

Florida

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Property Image
SOLD

Kim, Song & Associates Acquires Office Building At 25 W. 31st St. In Midtown South For $4.75M

25 W. 31st St.

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the dealdetailscomps

Summary

FLORIDA
Transaction Type:Sale

The office building located at 25 W. 31st St. in Midtown South has been sold in a recent transaction. The property spans 5,930 square feet and was sold for a price of $4,750,000. This translates to a price per square foot of $801.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,750,000
  • Address: 25 W. 31st St.
  • Market: Midtown South
  • Square Footage: 5,930
  • Buyer: Kim, Song & Associates
  • Seller: The Peak Organization
  • Buyer's Representative: Suzy Byun - Realty Artes
  • Seller's Representatives: Michael Rudder & Justin Harris - Rudder Property Group

The buyer in this transaction is Kim, Song & Associates, represented by Suzy Byun from Realty Artes. The seller, on the other hand, is The Peak Organization. The deal was facilitated by Michael Rudder and Justin Harris from Rudder Property Group, who represented the seller.

Players

TO
The Peak Organization
SELLER

Details

SOLD
IMAGE: Michael Rudder & Justin Harris DATE: 07/28/2022 ADDRESS: 25 W. 31st St. MARKET: Midtown South ASSET TYPE: Office BUYER: Kim, Song & Associates SELLER: The Peak Organization BUYER’S REP: Suzy Byun - Realty Artes SELLER’S REP: Michael Rudder (@MichaelRudder) & Justin Harris (@JustinHarris199) - Rudder Property Group (@RudderPropertyGroup) SALE PRICE: $4,750,000 SF: 5,930 ~ PPSF: $801

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Operating Expenses (Annual)
Net Operating Income (NOI)

$253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$16,875.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,517.42
Annual Debt Service$270,209.08