CushWake Brokers Sell Mixed-Use Property In Midtown Manhattan For $4.7M
141 East 45th Street, Manhattan, New York, NY, USA
$4,700,000
$788/SF
Building Size
5,960 SF
Asset Type
Mixed-use
Closing
Feb 28, 2021
About this deal
AI
A mixed-use property located at 141 East 45th Street in Midtown has been sold for a price of $4,700,000. The property consists of four units, including one retail unit and four office units. With a total square footage of 5,960, the price per square foot comes to $788. The building has a lot size of 20 feet by 100.42 feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,700,000
- Units: 4 (1 Retail, 4 Office)
- Market: Midtown
The sale of this property was facilitated by Will Conrad and Charlotte Redican from CushWake. The property was listed with an asking price of $4,950,000, and it was eventually sold for $4,700,000. The building has a total buildable square footage of 24,096, with a price per buildable square foot of $195.
It is important to note that the property was delivered vacant, offering potential for new tenants or occupancy opportunities.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93