Platinum Inc. Acquires Office Cooperative Unit At 121 Varick Street In Hudson Square
121 Varick Street, New York City, New York 10013, United States
$8,000,000
$633/SF
Building Size
12,623 SF
Asset Type
Office
Closing
Dec 21, 2021
AI
The sale of an office cooperative unit located at 121 Varick Street in Hudson Square has been finalized. The property, occupying the entire 2nd floor, was sold for a price of $8,000,000. The total area of the unit is 12,623 square feet, resulting in a price per square foot of $634.
Summary of transaction details
- Property Type: Office Cooperative Unit
- Transaction Amount: $8,000,000
- Address: 121 Varick Street, Hudson Square
- Market: Hudson Square
The buyer of the property was Platinum Inc., while the seller was Irene David Realty. The deal was facilitated by Michael Rudder and Justin Harris from Rudder Property Group, representing both the buyer and the seller.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93