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8 West 38th Street

Mixed-use Property At 8 West 38th Street Sold For $35 Million In Midtown South
SOLDMixed-use

Mixed-use Property At 8 West 38th Street Sold For $35 Million In Midtown South

8 West 38th Street

$35,000,000

$312/SF

Building Size

112,120 SF

Asset Type

Mixed-use

Closing

Aug 1, 2024

AI

The property asset involved in the transaction is a mixed-use building located at 8 West 38th Street in the Midtown South market. The sale price was $35,000,000, and the property encompasses 112,120 square feet, resulting in a price per square foot of $312.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $35,000,000
  • Address: 8 West 38th Street
  • Market: Midtown South
  • Square Footage: 112,120
  • Price per Square Foot: $312

The key individuals involved in this transaction include Eric Roth, Brett Siegel, Maurice Suede, Ronald Solarz (Ron Solarz), Tyler Signora, Mike Kavanagh, and Harry James, all representing Newmark in the deal.

Players

Brett Siegel

Newmark

Broker

$6.4B

vol

82 deals

Broker

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

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93