Akelius Acquires Office Building In Flatiron District For $31.5M
SOLD
$31,500,000
+ 2
New York
See Similar DealsOffice324,330 SF
Sold 11/28/2018
SOLD
Akelius Acquires Office Building In Flatiron District For $31.5M
28 W 22nd St #30, New York, NY 10010, USA
See Similar DealsOffice324,330 SF
Sold 11/28/2018
+ 2
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$97
Total Square Footage:324,330 SF
Transaction Type:Sale
The office property located at 28-30 West 22nd Street in the Flatiron District has been sold for a total of $31,500,000. The property spans across 32,433 square feet and was sold at a price of $971 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $31,500,000
The seller of the property is Van Alen Institute, while the buyer is Akelius. The deal was facilitated by brokers John Ciraulo, Craig Waggner, and Doug Blankrot from CushWake, as well as Bob Knakal and Stephen Palmese from JLL. Additional involvement in the transaction includes Michael Stimler and Kunal Chothani.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,680,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85
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