CoFinance Group Sells Office Building In New York City For $18.95M
137 2nd Ave New York, NY 10003, USA
$18,950,000
$1,624/SF
Building Size
11,664 SF
Asset Type
Office
Closing
Jul 25, 2023
About this deal
AI
The CoFinance Group has sold an office property located at 137 2nd Avenue in New York City. The property spans across 11,664 square feet and was sold for a total of $18,950,000, resulting in an average price per square foot of $1,625. The sale transaction was facilitated by the broker representatives from Cushman & Wakefield, including Hunter Moss, Bryan Hurley, and Michael Decheser.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $18,950,000
- Square Footage: 11,664
- Price per Square Foot: $1,625
- Address: 137 2nd Avenue, New York City
- Sellers: CoFinance Group
- Brokers: Hunter Moss, Bryan Hurley, and Michael Decheser from Cushman & Wakefield
Hunter Moss, Bryan Hurley, and Michael Decheser from Cushman & Wakefield played a pivotal role as the broker representatives in this property transaction. Their expertise and market knowledge contributed to the successful sale of the office property located at 137 2nd Avenue in New York City. This deal signifies the continued growth and activity in the New York City office market.
On the Map
$18,950,000
$1,624/SF
Office
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New York Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93