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256 W 38th St, New York, NY...

Brickman Associates Acquires Office Building In Manhattan For $70.75M
SOLDOffice

Brickman Associates Acquires Office Building In Manhattan For $70.75M

256 W 38th St, New York, NY 10018, USA

Building Size

7,357 SF

Asset Type

Office

Closing

Oct 16, 2017

AI

The property involved in this transaction is an office located at 256 W 38th Street in New York City, specifically in the Manhattan market. The property was sold for a total price of $70,751,921.70. The seller of the property was NY Reit, while the buyer was Brickman Associates. The transaction was facilitated by the real estate brokerage firm Cushman & Wakefield.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $70,751,921.70
  • Seller: NY Reit
  • Buyer: Brickman Associates
  • Broker: Cushman & Wakefield

This transaction highlights the collaborative efforts of NY Reit as the seller, Brickman Associates as the buyer, and Cushman & Wakefield as the brokerage firm. The deal signifies the successful transfer of ownership for the office property located at 256 W 38th Street in Manhattan.

Players

BA
Brickman AssociatesBuyer
NR
NY ReitSeller

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93