Howl Arts Inc Acquires Office Condo On Bowery For $9M
250 Bowery 2nd Floor, New York, NY 10012, USA
Building Size
6,466 SF
Asset Type
—
Closing
Nov 28, 2020
AI
The office condo located at 250 Bowery, 2nd Floor in Manhattan, New York has been sold for a total price of $9,000,000. Spanning across 6,466 square feet, the property was purchased at a rate of $1,392 per square foot.
Summary of transaction details
- Property Type: Office Condo
- Transaction Amount: $9,000,000
- Square Footage: 6,466 sf
- Price per Square Foot: $1,392
- Address: 250 Bowery, 2nd Floor, New York, Manhattan
The seller of the office condo, VE Equities represented by Zach Vella and Justin Ehrlich, successfully closed the deal with the buyer, Howl Arts Inc. The broker for this transaction was Rudder Property Group, with Mike Heller and Michael Rudder serving as their representatives.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93