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345 East 37th Street, New Y...

Candor Capital Acquires Medical Office Condos In Midtown East For $12M
SOLD

Candor Capital Acquires Medical Office Condos In Midtown East For $12M

345 East 37th Street, New York, NY 10016, USA

$12,000,000

$4,838/SF

Building Size

2,480 SF

Asset Type

Closing

Aug 31, 2021

AI

The medical office condos located at 345 East 37th Street in Midtown East have been sold for $12,000,000. The property offers a prime location in the bustling neighborhood and presents a valuable investment opportunity.

Summary of transaction details:

  • Property Type: Medical Office Condos
  • Transaction Amount: $12,000,000
  • Date: 08/31/2021
  • Address: 345 East 37th Street
  • Market: Midtown East

The sale of these medical office condos was facilitated by Adelaide Polsinelli, a representative from Compass. The buyer, Candor Capital, was represented by Adam Ibrahim and Ben Meshel. The seller of the property was @60Guilders. This transaction represents a significant investment in the medical office real estate sector in the Midtown East area.

Players

Adelaide Polsinelli

Compass

Broker

$285M

vol

26 deals

Broker
Ben Meshel

Ben Meshel

Candor Capital

Buyer

$185.2M

vol

15 deals

Buyer

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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93