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:
- Property Type: Office
- Transaction Amount: $23,800,000
- Address: 152 West 36th Street
- Market: Midtown South
- Square Footage: 46,004
- Price Per Square Foot: $517
- Buyer: Flatiron Equities & Mequity Companies
- Seller: Falcon Properties
- Brokers: Zach Redding & Dylan Kane - Colliers; Alex Woodlief - B6 Real Estate Advisors
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
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