Mixed-use Property At 8 West 38th Street Sold For $35 Million In Midtown South
SOLD
$35,000,000
+ 4
New York
See Similar DealsMixed-use112,120 SF
Sold 08/01/2024
SOLD
Mixed-use Property At 8 West 38th Street Sold For $35 Million In Midtown South
8 West 38th Street
See Similar DealsMixed-use112,120 SF
Sold 08/01/2024
+ 4
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$312
Total Square Footage:112,120 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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