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155 W 23rd St, New York, NY...

MC Real Estate Partners Acquires Office Building In Chelsea For $39.5M
SOLDOffice

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

Kaufman Organization
Kaufman OrganizationBrokerage
Goldman Sachs
Goldman SachsSeller
Goldman Sachs
Goldman SachsLender

New York Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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