Cofinance Group Acquires Office Building In East Village For $18M
SOLD
$18,000,000
+ 4
New York
See Similar DealsOffice200,000 SF
Sold 05/30/2019
SOLD
Cofinance Group Acquires Office Building In East Village For $18M
137 2nd Ave, New York, NY 10003, USA
See Similar DealsOffice200,000 SF
Sold 05/30/2019
+ 4
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$90
Total Square Footage:200,000 SF
Transaction Type:Sale
The office building located at 137 2nd Ave in East Village has been sold for $18,000,000. The property spans 20,000 square feet with a price per square foot of $900.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $18,000,000
- Square Footage: 20,000
- Price per Square Foot: $900
- Address: 137 2nd Ave
- Market: East Village
The buyer of the office building is Cofinance Group, represented by Mark Winter-Gitelson and Alex de Montebello. The seller is Continental Ventures, represented by Joel Schreiber, Jenny Haim, and Josh Smith.
The deal was facilitated by brokers Ally Dayon, Bunny Escava, Jeffrey Znaty, and Mark Winter Gitelson.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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