Spring Imports Acquires Office Space In Midtown Manhattan For $3.2M
32 West 39th Street
$3,216,850
$650/SF
Building Size
4,949 SF
Asset Type
Office
Closing
Sep 7, 2023
AI
The property involved in the sale is an office located at 32 West 39th Street - 10th Floor in Midtown, Manhattan. The property spans 4,949 square feet and was sold at a price of $3,216,850, resulting in a price per square foot of $650.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,216,850
- Square Footage: 4,949
- Address: 32 West 39th Street - 10th Floor
- Market: Midtown, Manhattan
The buyer in this transaction is Spring Imports, while the seller is R & B Realty Group. The deal was facilitated by the brokers Michael Rudder and Justin Harris from Rudder Property Group.
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
4.93%
Cash-on-Cash
-1.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93