Avi Ben-Ishay Acquires Midtown Office Condo On West 46th Street For $4.5M
10 West 46th Street, New York, NY 10036, USA
$4,500,000
$776/SF
Building Size
5,795 SF
Asset Type
—
Closing
Nov 4, 2021
AI
An office condo located at 10 West 46th Street in Midtown has been sold for $4,500,000. The property, which consists of the entire 6th floor and spans 5,795 square feet, was transacted at a price per square foot of $776. Avi Ben-Ishay of Eastwood Capital Properties acted as the broker representing both the buyer and seller during the negotiations.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $4,500,000
- Address: 10 West 46th Street
- Market: Midtown
- Square Footage: 5,795
- Price Per Square Foot: $776
Avi Ben-Ishay, broker at Eastwood Capital Properties, played a pivotal role in facilitating the deal as the representative of both the buyer and seller. This transaction marks an important milestone in the local real estate market, showcasing the demand for office condos in the vibrant Midtown area.
New York 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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93