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
About this deal
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
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