Cofinance Group Acquires Office Building In East Village For $18M
137 2nd Ave, New York, NY 10003, USA
$18,000,000
$90/SF
Building Size
200,000 SF
Asset Type
Office
Closing
May 29, 2019
About this deal
AI
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.
On the Map
$18,000,000
$90/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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93