Beekman Real Estate Investment Management Acquires Property At 133 W 52nd St For $46M From Long Wharf Real Estate Partners
133 W 52nd St, New York, NY, 10019
$46,000,000
$821/SF
Building Size
56,000 SF
Asset Type
Office
Closing
Mar 26, 2018
About this deal
AI
The property involved in this transaction is a vacant office condominium located at 133-135 West 52nd Street, New York, NY, in the New York market. The transaction was completed for a price of $46,000,000.00 and encompasses a total area of 56,000 square feet. This six-story property sits at the base of a 47-story residential tower.
Summary of transaction details:
- Property Type: Office Condominium
- Transaction Amount: $46,000,000.00
- Address: 133 W 52nd St, New York, NY, 10019
- Square Footage: 56,000
- Seller: Long Wharf Real Estate Partners
- Buyer: Beekman Real Estate Investment Management
- Seller's Representative: Glenn Tolchin (Upland Property Advisors)
- Deal Closed: Friday
- Price per Square Foot: Approximately $770
Ariel Lahmi's company, Beekman Real Estate Investment Management, acquired the property and is planning renovations, with consideration to potentially relocating his operations into one of the floors. The sellers, MRP Realty and Long Wharf Real Estate Ventures, previously purchased the condo for $36.3 million from the Chetrit Group in September 2015. The brokers representing the sellers in this deal include Anthony Ledesma, Yoav Oelsner, and Glenn Tolchin from JLL.
On the Map
$46,000,000
$821/SF
Office
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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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93