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314 E 34th St, New York, NY...

Bashi Rafael LLC Acquires Office Building On 314 East 34th Street In Manhattan For $8.4M
SOLDOffice

Bashi Rafael LLC Acquires Office Building On 314 East 34th Street In Manhattan For $8.4M

314 E 34th St, New York, NY 10016, USA

Building Size

13,202 SF

Asset Type

Office

Closing

Jan 18, 2018

AI

The office building located at 314 East 34th Street in Manhattan has been sold for a total of $8,400,000. Spanning across 13,202 square feet, the property was purchased at a price per square foot of $636.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $8,400,000
  • Square Footage: 13,202 sf
  • Price Per Square Foot: $636
  • Address: 314 East 34th Street, New York
  • Market: Manhattan

The seller of the property was Bruzzese 314 Family Limited Partnership, represented by Joseph Bruzzese. On the other hand, Bashi Rafael LLC, represented by Joseph Nazar (@jozepie), acted as the buyer. The transaction was facilitated by Jeff Nissani of JsnProperties.

Players

Jeffrey Nissani

JSN Properties

Broker

$15.4M

vol

10 deals

Broker
Lang Realty
Lang RealtyBrokerage

Joseph Nazar

Buyer

$15.5M

vol

3 deals

Buyer

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