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244 E 58th St, New York, NY...

Charlie Tebele Acquires Office Building On 244 East 58th Street In Midtown East For $8.5M
SOLDOffice

Charlie Tebele Acquires Office Building On 244 East 58th Street In Midtown East For $8.5M

244 E 58th St, New York, NY 10022, USA

$8,500,000

$1,075/SF

Building Size

7,900 SF

Asset Type

Office

Closing

Jun 30, 2019

AI

The office property located at 244 East 58th Street in Midtown East was recently sold in a closed transaction. The property spans across 7,900 square feet, with a price per square foot of $1,075. The asking price for the property was $8,900,000, and it was sold for $8,500,000.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $8,500,000
  • Address: 244 East 58th Street
  • Market: Midtown East
  • Square Footage: 7,900
  • Price per Square Foot: $1,075

The seller of the property was The Caron Foundation, while the buyer was Charlie Tebele. The deal was facilitated by brokers Will Conrad, Jon Garfinkel, Chris Bellino, and Jonathan Anapol.

Players

Chris Bellino

Latitude Property Group

Broker

$45.3M

vol

3 deals

Broker

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

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93