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32 E 39th St, New York, NY,...

Marcus & Millichap Brokers $9.5M Sale Of Historic Office Building In Midtown Manhattan
SOLDOffice

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

Stephen Bellitti

Colliers

Broker

$521.9M

vol

7 deals

Broker

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