Malka Realty Sells Bowery Office Building For $18.75M
167 Bowery, Manhattan, New York, NY, USA
$18,750,000
$794/SF
Building Size
23,600 SF
Asset Type
Office
Closing
Oct 13, 2021
About this deal
AI
The sale of an office asset at 167 Bowery in Bowery has been completed. The property, spanning 23,600 square feet, was sold by Malka Realty Corporation, represented by William Cherkin. The transaction was facilitated by brokers Glenn Tolchin and Yoav Oelsner of Upland Property Advisors. The sale price for the property was $18,750,000, resulting in a price per square foot of $794.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $18,750,000
- Address: 167 Bowery, Bowery
- Market: Bowery
- Square Footage: 23,600
- Seller: Malka Realty Corporation - William Cherkin
- Brokers: Glenn Tolchin & Yoav Oelsner - Upland Property Advisors
- Price per Square Foot: $794
The sale was successfully concluded with the assistance of Glenn Tolchin and Yoav Oelsner from Upland Property Advisors, who represented the buyer and seller respectively. With their expertise in the Bowery market, they ensured a smooth transaction for all parties involved.
On the Map
$18,750,000
$794/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93