ZD Jasper Realty Acquires Far West Side Industrial Asset For $51.7M
SOLD
$51,700,000
New York
See Similar DealsIndustrial
Sold 03/29/2022
SOLD
ZD Jasper Realty Acquires Far West Side Industrial Asset For $51.7M
430 East 37th Street, New York City, New York 10016, United States
See Similar DealsIndustrial
Sold 03/29/2022
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Sale
Three industrial properties located at 430 West 37th Street, 434 West 37th Street, and 429 West 36th Street in the Far West Side neighborhood have been sold for a total price of $51,700,000. The buyer, ZD Jasper Realty represented by Tom Wu, acquired these assets from Extell Development, led by Gary Barnett.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $51,700,000
- Address: 430 West 37th Street, 434 West 37th Street, 429 West 36th Street
- Market: Far West Side
Tom Wu, representing ZD Jasper Realty, completed the purchase of these industrial properties from Extell Development. The sale, finalized on March 29, 2022, involved the assets located at 430 West 37th Street, 434 West 37th Street, and 429 West 36th Street in the Far West Side market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,757,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$183,679.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$245,084.38
Annual Debt Service$2,941,012.51
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