Sonic Union NY Acquires Office Condo In Bryant Park For $6.5M
24 W 40th St, New York, NY 10018, USA
$6,483,080
$122/SF
Building Size
53,140 SF
Asset Type
—
Closing
Dec 5, 2019
About this deal
AI
The office condo located at 24 W 40th St in the Bryant Park market has been sold in a closed transaction. The property, spanning 5,314 square feet, was listed with an asking price of $6,900,000. The final sale price was $6,483,080, resulting in a price per square foot of $1,220. The office condo is situated on the 6th floor of the building.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $6,483,080
- Address: 24 W 40th St
- Market: Bryant Park
- Square Footage: 5,314
- Price per Square Foot: $1,220
The seller of the property was Thor Equities, while the buyer was Sonic Union NY. Representing the deal as the broker was Michael Rudder.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
About $122 per square foot on a published $6.5M for 53,140 square feet (2019).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.45%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93