Michael T. Cohen Of Williams Equities Secures $15M Refinance Loan For 38 East 32nd Street
38 East 32nd Street
$15,000,000
$170/SF
Building Size
88,000 SF
Asset Type
Office
Closing
Dec 3, 2025
About this deal
AI
38 East 32nd Street is an office building located in the Park Avenue South market of Manhattan, featuring a total square footage of 88,000. The property has undergone a refinancing transaction with a loan amount of $15,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,000,000
- Lender: Citibank
- Landlord: Michael T. Cohen - Williams Equities
- Loan Type: Refinance
This transaction marks a significant financial maneuver by Williams Equities, which has opted to replace prior debt from John Hancock through this refinancing deal with Citibank.
On the Map
$15,000,000
$170/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93