PD Equities Sells Retail Property In Midtown South For $30M With Broker Elad Dror
SOLD
$30,000,000
New York
See Similar DealsOffice30,000 SF
Sold 01/11/2024
SOLD
PD Equities Sells Retail Property In Midtown South For $30M With Broker Elad Dror
110 West 32nd Street
See Similar DealsOffice30,000 SF
Sold 01/11/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$1,000
Total Square Footage:30,000 SF
Transaction Type:Sale
An office building located at 110 West 32nd Street in Midtown South has been sold for $30,000,000. The property spans across 30,000 square feet, resulting in a price per square foot of $1,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,000,000
- Address: 110 West 32nd Street
- Market: Midtown South
- SF: 30,000
- PPSF: $1,000
Tony Park, representing PD Equities, served as the seller in this transaction. Elad Dror, from PD Properties, acted as the broker facilitating the deal.
In September 2023, Tony Park and PD Equities acquired the same office building for $37,000,000. PD Equities, looking for further value-added opportunities, is interested in properties located in Koreatown and Midtown areas.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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