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14 East 52nd Street

Gloria Cedeno De Hoces Sells Office Building In Midtown Manhattan For $19.5M
SOLDOffice

Gloria Cedeno De Hoces Sells Office Building In Midtown Manhattan For $19.5M

14 East 52nd Street

$19,500,000

$1,147/SF

Building Size

17,000 SF

Asset Type

Office

Closing

Oct 17, 2023

AI

The office building located at 14 East 52nd Street in Midtown, Manhattan has been sold for a total price of $19,500,000. The property, spanning 17,000 square feet, was purchased at a price per square foot of $1,147.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $19,500,000
  • Address: 14 East 52nd Street, Midtown, Manhattan
  • Square Footage: 17,000

Gloria Cedeno De Hoces acted as the seller for this transaction, while Jeff Berman from Berkshire Hathaway HomeServices represented the buyer. The seller was represented by a team from Avison Young consisting of James Nelson, Eric Karmitz, Brent Glodowski, and Alexandra Marolda.

It is worth noting that the building was delivered vacant, providing an opportunity for the buyer to utilize the space according to their specific needs.

Players

Eric Karmitz

Avison Young

Broker

$767.7M

vol

36 deals

Broker

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.81%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93