Duc Huang Acquires Mixed-Use Property In Midtown Manhattan For $36.5M
159 W 54th St New York, NY 10019, USA
$36,500,000
$427/SF
Building Size
85,309 SF
Asset Type
Mixed-use
Closing
Aug 22, 2023
About this deal
AI
Located at 159-161 West 54th Street in Midtown, Manhattan, a mixed-use property has been sold for a total amount of $36,500,000. The property spans 85,309 square feet, resulting in a price per square foot of $428.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $36,500,000
- Buyer: Duc Huang
- Seller: Sol Kurtz
- Brokers: Aaron Jungreis, Ben Khakshoor, and Alex Fuchs - Rosewood Realty Group
- Buyer's Attorney: Yaron Kornblum - Rivkin Radler
The sale of this mixed-use property was facilitated by the Rosewood Realty Group, with brokers Aaron Jungreis, Ben Khakshoor, and Alex Fuchs representing the seller, Sol Kurtz. The buyer, Duc Huang, was represented by attorney Yaron Kornblum from Rivkin Radler.
On the Map
$36,500,000
$427/SF
Mixed-use
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Players
Market 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
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93