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355 W. 52nd St.

Seavest Healthcare Properties Acquires Office Building In Midtown West For $47.5M
SOLD

Seavest Healthcare Properties Acquires Office Building In Midtown West For $47.5M

355 W. 52nd St.

Building Size

Asset Type

Closing

Jun 14, 2022

AI

The office building located at 355 W. 52nd St. in Midtown West has been sold for a total price of $47,500,000. The property spans a total of 57,000 square feet, resulting in a price per square foot of $833. The sale was completed on 06/14/2022.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $47,500,000
  • Address: 355 W. 52nd St.
  • Market: Midtown West

The buyer in this transaction was Seavest Healthcare Properties and they were represented by their broker, Jeff Organisciak from Eastdil Secured LLC. The seller of the property was Opus Magnum Inc. The deal was facilitated by Eastdil Secured LLC.

Players

SP
Seavest Healthcare PropertiesBuyer
OI
Opus Magnum IncSeller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93