American Musical And Dramatic Academy Acquires Commercial Condo In Manhattan For $15.8M
421 W 54th St, New York, NY 10019, USA
Building Size
2,832 SF
Asset Type
Condo
Closing
Apr 18, 2018
About this deal
AI
421 West 54th Street, located in Manhattan's commercial condo market, was recently sold for $15,800,000. The property, a commercial condo, was involved in a transaction between the seller, Music Theatre International represented by Drew Cohen, and the buyer, American Musical and Dramatic Academy.
Summary of transation details
- Property Type: Commercial Condo
- Transaction Amount: $15,800,000
- Seller: Music Theatre International - Drew Cohen
- Buyer: American Musical and Dramatic Academy
Drew Cohen from Music Theatre International represented the seller in this transaction. The American Musical and Dramatic Academy successfully acquired the commercial condominium at 421 West 54th Street.
Players
New York Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93