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262 W 116th St, New York, N...

Ronald Crane And Paula D Crane Acquire Office Building In Manhattan For $6.8M
SOLDOffice

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

Sugar Hill Capital Partners
Sugar Hill Capital PartnersSeller

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