facebook

traded

+ Submit
Home

/

Deals

/

New York

/

All

/

Sale

/

250 Bowery 2nd Floor, New Y...

Howl Arts Inc Acquires Office Condo On Bowery For $9M
SOLD

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

Michael Rudder

Rudder Property Group

Broker

$198.3M

vol

23 deals

Broker
Justin Ehrlich

Justin Ehrlich

VE Equities

Seller

$55M

vol

4 deals

Seller

New York CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

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