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
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