Candor Capital Acquires Medical Office Condos In Midtown East For $12M
SOLD
$12,000,000
New York
See Similar Deals2,480 SF
Sold 08/31/2021
SOLD
Candor Capital Acquires Medical Office Condos In Midtown East For $12M
345 East 37th Street, New York, NY 10016, USA
See Similar Deals2,480 SF
Sold 08/31/2021
Summary
NEW YORK
Price Per Square Foot:$4,838
Total Square Footage:2,480 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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