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305 E 41st St, New York, NY...

Westgate Resorts Acquires Property At 305 E 41st St New York For $50 Million Represented By John Basting
SOLD

Westgate Resorts Acquires Property At 305 E 41st St New York For $50 Million Represented By John Basting

305 E 41st St, New York, NY, 10017

$50,000,000

Building Size

Asset Type

Closing

Nov 20, 2023

AI

The property asset involved in this transaction is located at 305 E 41st St, New York, NY, 10017. The transaction was executed in the New York market at a price of $50,000,000.00. The property has a square footage of 0.

Summary of transaction details:

  • Property Type: Sale
  • Transaction Amount: $50,000,000.00
  • Address: 305 E 41st St, New York, NY, 10017
  • Market: New York
  • Buyer: Westgate Resorts
  • Seller's Representative: John Basting-Cushman & Wakefield

This transaction features Westgate Resorts as the buyer of the property, while John Basting of Cushman & Wakefield acted as the seller's representative throughout the deal, ensuring a facilitated transaction process.

Players

John Basting

Cushman & Wakefield

Broker

$50M

vol

1 deal

Broker
Redwood Realty Advisors
Redwood Realty AdvisorsBrokerage
Newmark
NewmarkBrokerage

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

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93