American Musical And Dramatic Academy Acquires Commercial Condo On 421 West 54th Street In Manhattan For $15.8M
421 W 54th St, New York, NY 10019, USA & 421 W 54th St, New York, NY 10019, USA
Building Size
2,832 SF
Asset Type
—
Closing
Apr 17, 2018
About this deal
AI
The commercial condo located at 421 West 54th Street, New York, was sold for a price of $15,800,000. This property, situated in the Manhattan market, was involved in a closed transaction. The seller was Music Theatre International, represented by Drew Cohen, while the buyer was the American Musical and Dramatic Academy.
Summary of transaction details
- Property Type: Commercial Condo
- Transaction Amount: $15,800,000
- Seller: Music Theatre International – Drew Cohen
- Buyer: American Musical and Dramatic Academy
- Address: 421 West 54th Street, New York
- Market: Manhattan
Representing Music Theatre International, Drew Cohen facilitated the sale of this commercial condo to the American Musical and Dramatic Academy. The transaction took place on April 18, 2018, and involved a property located at 421 West 54th Street. This deal highlights the collaboration between these two prominent entities in the theater industry.
Players
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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