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25 W. 31st St.

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

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

25 W. 31st St.

$4,750,000

Building Size

Asset Type

Closing

Sep 15, 2022

AI

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

Kim

Song & Associates

Buyer

$98.4M

vol

11 deals

Buyer
Song & Associates
Song & AssociatesBuyer

Hialeah CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.34%

Cash-on-Cash

-0.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93