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Walter & Samuels Sells Office Asset At 15 West 36th Street For $21.5M In Midtown South

Property Image
SOLD
$21,500,000
James Nelson
Eric Karmitz
+ 1

New York

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Office70,099 SF
Sold 11/21/2024
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Property Image
SOLD

Walter & Samuels Sells Office Asset At 15 West 36th Street For $21.5M In Midtown South

15 West 36th Street

See Similar Deals
Office70,099 SF
Sold 11/21/2024
James Nelson
Eric Karmitz
+ 1
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$306
Total Square Footage:70,099 SF
Transaction Type:Sale

The property asset involved in the transaction is an office building located at 15 West 36th Street in the Midtown South market. It has a total square footage of 70,099 and was sold for a price of $21,500,000, which translates to a price per square foot of $306.

Summary of transaction details:

The deal was facilitated by brokers James Nelson, Erik Edeen, Charles Kingsley, and Eric Karmitz, representing Walter & Samuels as the seller of the property. Their collaboration played a significant role in completing this transaction in the office market of Midtown South.

Players

Eric Karmitz
36 deals$767.7M volume
BROKER

James Nelson
Avison Young
85 deals$1.9B volume
BROKER

Charles (Chas) Kingsley
Avison Young
15 deals$594.5M volume
BROKER

Erik Edeen
Avison Young
14 deals$383.2M volume
BROKER

Details

SOLD
IMAGE: James Nelson, Erik Edeen, Charles Kingsley & Eric Karmitz DATE: 11/21/2024 ADDRESS: 15 West 36th Street MARKET: Midtown South ASSET TYPE: Office SELLER: Walter & Samuels BROKERS: James Nelson (@JamesNelson), Erik Edeen, Charles Kingsley (@ChasKingsley) & Eric Karmitz (@Eric.Karmitz) - Avison Young (@Avison_Young_Global) SALE PRICE: $21,500,000 SF: 70,099 ~ PPSF: $306

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,146,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$76,384.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,920.97
Annual Debt Service$1,223,051.63