Cayre Equities Acquires Office Building In Garment District For $16.15M
254 West 35th Street
$16,150,000
$151/SF
Building Size
106,642 SF
Asset Type
Office
Closing
Nov 20, 2024
About this deal
AI
The transaction involves an office asset located at 254 West 35th Street in the Garment District, featuring a sale price of $16,150,000. The property encompasses 106,642 square feet, resulting in a price per square foot of $151.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,150,000
- Address: 254 West 35th Street
- Market: Garment District
- Square Footage: 106,642
- Price per Square Foot: $151
- Buyer: Cayre Equities
- Broker Representatives: Eric Michael Anton & John J. Stewart - Marcus & Millichap
This transaction was facilitated by Eric Michael Anton and John J. Stewart, who represented the buyer, Cayre Equities, in the deal. Their involvement highlights the brokerage's role in the successful completion of this transaction.
On the Map
$16,150,000
$151/SF
Office
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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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93