Jonathan Notaro Purchases Hudson Square Office From Joseph Sullo & David Moyal For $7.5M
121 Varick Street
$7,500,000
$604/SF
Building Size
12,400 SF
Asset Type
Office
Closing
Jul 31, 2025
AI
The property asset involved in this transaction is an office space located at 121 Varick Street - 12th Floor Penthouse in the Hudson Square market. The sale price of the property was $7,500,000, with a total of 12 units, equating to a price per unit of $625,000. The asset spans 12,400 square feet, resulting in a price per square foot of $604.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,500,000
- Units: 12
- Price per Unit: $625,000
- Square Footage: 12,400
- Price per Square Foot: $604
- Buyer: Jonathan Notaro
- Seller: Joseph Sullo & David Moyal
- Broker Representation: Michael Glanzberg & James Costello - Sinvin Real Estate
This transaction involved Jonathan Notaro as the buyer, while the sellers were Joseph Sullo and David Moyal. The deal was facilitated by brokers Michael Glanzberg and James Costello from Sinvin Real Estate, representing the involved parties throughout the process.
Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93