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Klosed Properties & Namdar Realty Group Acquire Office Building In Midtown East For $26.2M

Property Image
SOLD
$26,194,159

New York

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Office94,461 SF
Sold 08/14/2023
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Property Image
SOLD

Klosed Properties & Namdar Realty Group Acquire Office Building In Midtown East For $26.2M

20 E 46th St New York, NY 10176, USA

See Similar Deals
Office94,461 SF
Sold 08/14/2023
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$277
Total Square Footage:94,461 SF
Transaction Type:Sale

20 East 46th Street in Midtown East, Manhattan has been sold in a recent transaction. The property is an office asset with a total area of 94,461 square feet. The sale price for this property was $26,194,159, resulting in a price per square foot of $277. The transaction took place between the buyer, Klosed Properties & Namdar Realty Group, and the seller, Eastwest Bank. The brokers involved in the deal were Alex Fuchs and Ben Khakshoor of Rosewood Realty Group.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $26,194,159
  • Square Footage: 94,461
  • Price per Square Foot: $277
  • Buyer: Klosed Properties & Namdar Realty Group
  • Seller: Eastwest Bank
  • Brokers: Alex Fuchs & Ben Khakshoor - Rosewood Realty Group

Rosewood Realty Group, represented by brokers Alex Fuchs and Ben Khakshoor, successfully arranged the sale of the note on 20 East 46th Street, New York, NY. For similar opportunities, interested parties can reach out to [email protected] or [email protected].

Players

Ben Khakshoor
132 deals$1.9B volume(212) 359-9913
BROKER

Alex Fuchs
Rosewood Realty Group
100 deals$1.9B volume
BROKER

Namdar Realty Group
BUYER

Details

SOLD
IMAGE: Ben Khakshoor & Alex Fuchs DATE: 08/14/2023 ADDRESS: 20 East 46th Street MARKET: Midtown East, Manhattan ASSET TYPE: Office BUYER: Klosed Properties & Namdar Realty Group SELLER: Eastwest Bank BROKERS: Alex Fuchs (@AlexFuchs1) & Ben Khakshoor (@BenKhak)- Rosewood Realty Group (@RosewoodRG) SALE PRICE: $26,194,159 SF: 94,461 ~ PPSF: $277 NOTE FROM BROKER: Rosewood Realty Group arranged the sale of the note on 20 East 46th Street, New York, NY. If you are interested in similar opportunities, please reach out to [email protected] or [email protected].

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,397,021.81

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$93,062.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$124,173.68
Annual Debt Service$1,490,084.13