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
New York Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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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