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152 West 36th Street

Flatiron Equities & Mequity Companies Acquire Office Asset From Falcon Properties For $23.8M In Midtown South
SOLDOffice

Flatiron Equities & Mequity Companies Acquire Office Asset From Falcon Properties For $23.8M In Midtown South

152 West 36th Street

$23,800,000

$517/SF

Building Size

46,004 SF

Asset Type

Office

Closing

Sep 10, 2024

AI

The asset involved in the transaction is located at 152 West 36th Street in Midtown South, featuring a total square footage of 46,004. The office property was sold for a price of $23,800,000, translating to a price per square foot of $517.

Summary of transaction details:

The key players in this transaction include the buyers, Flatiron Equities and Mequity Companies, who acquired the property from seller Falcon Properties. The deal was facilitated by brokers Zach Redding and Dylan Kane representing Colliers, as well as Alex Woodlief from B6 Real Estate Advisors.

Players

Dylan Kane

Colliers

Broker

$3B

vol

59 deals

Broker

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

0.67%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93