Ronald Crane And Paula D Crane Acquire Office Building In Manhattan For $6.8M
262 W 116th St, New York, NY 10026, USA
Building Size
2,125 SF
Asset Type
Office
Closing
May 17, 2022
AI
262-265 W 116th Street in New York City, Manhattan, was recently sold for $6,800,000. The office property, situated in a prime location, was part of a closed transaction in May 2017. The sale was facilitated by Sugar Hill Capital Partners, who acted as the seller, and the buyer was Ronald Crane and Paula D Crane.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,800,000
- Address: 262-265 W 116th Street, New York City
- Market: Manhattan
Ronald Crane and Paula D Crane were the buyers of this office property. They successfully acquired the property from Sugar Hill Capital Partners. The deal was completed in May 2017, marking a significant transaction in the Manhattan market.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93