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59 West 46th Street, New Yo...

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

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

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

$59,500,000

$590/SF

Building Size

100,725 SF

Asset Type

Commercial

Closing

Nov 2, 2022

AI

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

Paramdeep Singh

Premier Hotels

Buyer

$148.5M

vol

3 deals

Buyer

William Kohane

Apple Core Holdings

Seller

$68M

vol

2 deals

Seller

New York Commercial Market Snapshot

Boundary boundary · Commercial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93