Bared Monkey Purchases Office Space At 131 West 35th Street From Elfa International For $2.6M
131 West 35th Street
$2,600,000
$336/SF
Building Size
7,725 SF
Asset Type
Office
Closing
Jan 16, 2025
About this deal
AI
This office asset located at 131 West 35th Street is situated in the Midtown South market. The property was sold for $2,600,000, encompassing a total of 7,725 square feet, resulting in a price per square foot of $336.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $2,600,000
- Buyer: Bared Monkey
- Seller: Edward Assile - Elfa International
- Buyer's Representative: Michael Rudder & Justin Harris - Rudder Property Group
- Seller's Representatives: Christopher Okada, Elena Ivanova & Thomas Capuano - Okada & Company
The transaction saw buyer-user Bared Monkey acquire the property, which was originally listed for lease. The successful closing marks a noteworthy adaptation in the local real estate market, finalizing the deal on January 16, 2025.
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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93