facebook
Traded Co logo
Submit

Paramdeep Singh Acquires Commercial Property In Central Midtown Manhattan For $59.5M

Property Image
SOLD
$59,500,000

New York

See Similar Deals
Commercial100,725 SF
Sold 11/02/2022
the dealplayerscompscontact
Property Image
SOLD

Paramdeep Singh Acquires Commercial Property In Central Midtown Manhattan For $59.5M

59 West 46th Street, New York City, New York 10036, United States

See Similar Deals
Commercial100,725 SF
Sold 11/02/2022
Contact now

Summary

NEW YORK
Asset Type:Commercial
Price Per Square Foot:$590
Total Square Footage:100,725 SF
Transaction Type:Sale

A commercial property located at 59 West 46th Street in Central Midtown, Manhattan has been sold in a recent transaction. The property is zoned as C6-4.5, MiD and measures approximately 11,850 square feet.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $59,500,000
  • Market: Central Midtown, Manhattan
  • Buyer: Paramdeep Singh
  • Seller: William Kohane
  • Building Square Footage: 100,725
  • Price per Square Foot: $590
  • Lot Size: 11,850 square feet
  • Permits: Alteration (07/21/2021)
  • Lot Dimension: 55 ft x 200.83 ft
  • Zoning: C6-4.5, MiD

The transaction involved a buyer named Paramdeep Singh and a seller named William Kohane. The sale price for the commercial property was $59,500,000, with a building square footage of 100,725 and a price per square foot of $590. The lot size is 11,850 square feet, and the property has an alteration permit issued on 07/21/2021. The lot dimension measures 55 feet by 200.83 feet. The property is zoned as C6-4.5, MiD, and is situated in the Central Midtown market of Manhattan.

Players

3 deals$148.5M volume
BUYER

2 deals$68M volume
SELLER

Details

SOLD
IMAGE: 02/11/2022 ADDRESS: 59 West 46th Street MARKET: Central Midtown, Manhattan ASSET TYPE: Commercial ~ ZONING: C6-4.5, MiD BUYER: Paramdeep Singh SELLER: William Kohane PRICE: $59,500,000 BSF: 142,200 ~ PPBSF: $418 SF: 100,725 ~ PPSF: $590 FAR: 8.50 TAX CLASS: 4 LOT SIZE: 11,850 PERMITS: Alteration (07/21/2021) LOT DIMENSION: 55 ft x 200.83 ft

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,173,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$211,390.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$282,060.36
Annual Debt Service$3,384,724.27