MC Real Estate Partners Acquires Office Building In Chelsea For $39.5M
SOLD
$39,500,000
New York
See Similar DealsOffice82,000 SF
Sold 09/08/2019
SOLD
MC Real Estate Partners Acquires Office Building In Chelsea For $39.5M
155 W 23rd St, New York, NY 10011, USA
See Similar DealsOffice82,000 SF
Sold 09/08/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$481
Total Square Footage:82,000 SF
Transaction Type:Sale
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
BROKERAGE
SELLER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$140,335.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$187,250.15
Annual Debt Service$2,247,001.82
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