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25 West 31st Street, New Yo...

Kim, Song & Associates Acquires Office In Midtown South For $4.75M
SOLDOffice

Kim, Song & Associates Acquires Office In Midtown South For $4.75M

25 West 31st Street, New York City, New York 10001, United States

$4,750,000

$801/SF

Building Size

5,930 SF

Asset Type

Office

Closing

Jul 27, 2022

AI

The office asset located at 25 W. 31st St. in Midtown South has been sold for a total price of $4,750,000. The property spans across 5,930 square feet, resulting in a price per square foot of $801. The transaction took place on 07/28/2022 between the buyer, Kim, Song & Associates, and the seller, The Peak Organization.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $4,750,000
  • Address: 25 W. 31st St.
  • Market: Midtown South

Suzy Byun from Realty Artes represented the buyer, Kim, Song & Associates, in the deal. On the other hand, Michael Rudder and Justin Harris from Rudder Property Group were the seller's representatives. They facilitated the successful completion of this office property transaction.

Players

Michael Rudder

Rudder Property Group

Broker

$198.3M

vol

23 deals

Broker
TO
The Peak OrganizationSeller

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

3.34%

Cash-on-Cash

-0.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93