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
About this deal
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.
On the Map
$19,500,000
$1,147/SF
Office
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Players
New York Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93