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
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