MC Real Estate Partners Acquires Office Building In Chelsea For $39.5M
155 W 23rd St, New York, NY 10011, USA
$39,500,000
$481/SF
Building Size
82,000 SF
Asset Type
Office
Closing
Sep 7, 2019
AI
The property involved in this transaction is an office located at 155 West 23rd Street in Chelsea. The property has a total area of 82,000 square feet. The transaction took place on September 8, 2019, with a sale price of $39,500,000. The price per square foot was $481.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $39,500,000
- Address: 155 West 23rd Street
- Market: Chelsea
The seller of the property was @KaufmanOrganization and @GoldmanSachs, while the buyer was MC Real Estate Partners represented by Andy Nathan and Steve Grant. The seller's representatives in this deal were @CushWake Adam Spies, Kevin Donner, and Michael Gembecki.
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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93