Marcus & Millichap Brokers $9.5M Sale Of Historic Office Building In Midtown Manhattan
32 E 39th St, New York, NY, 10016
$9,500,000
Building Size
—
Asset Type
Office
Closing
Nov 22, 2023
AI
The five-story office building at 32 E 39th St in New York City has been sold for $9.5 million. This historic structure, built in 1907, features a conference room, executive suites, and a private roof deck. Located in the Murray Hill neighborhood, the property was once owned by Jacob Ruppert Jr., a former owner of the New York Yankees.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,500,000.00
- Address: 32 E 39th St, New York, NY, 10016
- Market: New York
- Seller's Rep: Stephen (Steve) Bellitti (Colliers International)
- Brokers: Stephen (Steve) Bellitti (Colliers International)
- Buyer: Unknown
John Stewart, Nicholas Biedron, and Stephen Bell from Marcus & Millichap played key roles in representing the seller, a private investor, in the transaction. They facilitated the successful sale of this notable office building, adding to their track record of real estate deals in New York City.
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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93