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Debra Kalimian Acquires Commercial Property In Kips Bay, Manhattan For $43M

Property Image
SOLD
$43,012,500
AK
RS

New York

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Commercial110,169 SF
Sold 04/29/2022
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Property Image
SOLD

Debra Kalimian Acquires Commercial Property In Kips Bay, Manhattan For $43M

340 East 29th Street, New York City, New York 10016, United States

See Similar Deals
Commercial110,169 SF
Sold 04/29/2022
AK
RS
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$390
Total Square Footage:110,169 SF
Transaction Type:Sale

The commercial property located at 340 East 29th Street in Kips Bay, Manhattan has been sold. The transaction took place on April 29, 2022, with a sale price of $43,012,500. The property has a total square footage of 110,169, and the purchase price per square foot is $390. The building has a total floor area ratio (FAR) of 7.21, and the zoning designation is R8. The property is classified as tax class 2. The lot size is 15,280 square feet, with dimensions of 100 feet by 197.5 feet. An alteration permit was issued on December 10, 2019.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $43,012,500
  • Market: Kips Bay, Manhattan
  • Buyer: Debra Kalimian
  • Seller: Rita Kalimian Sakhaie
  • Building Square Footage (BSF): 91,986
  • Price per Building Square Foot (PPBSF): $
  • Price per Square Foot (PPSF): $390

The buyer of the property is Debra Kalimian, and the seller is Rita Kalimian Sakhaie.

Players

AK
Albert Kalimian
13 deals$760.5M volume
BROKER
RS
Rita Kalimian Sakhaie
5 deals$120.9M volume
SELLER

Details

SOLD
IMAGE: 04/29/2022 ADDRESS: 340 East 29th Street MARKET: Kips Bay, Manhattan ASSET TYPE: Commercial ~ ZONING: R8 BUYER: Debra Kalimian SELLER: Rita Kalimian Sakhaie PRICE: $43,012,500 BSF: 91,986 ~ PPBSF: $ SF: 110,169 ~ PPSF: $390 FAR: 7.21 TAX CLASS: 2 LOT SIZE: 15,280 PERMITS: Alteration 2 (12/10/2019) LOT DIMENSION: 100 ft x 197.5 ft

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,293,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$152,814.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,901.19
Annual Debt Service$2,446,814.33