Young-Hee Lowe Acquires Office Building In Midtown East For $6M
34 E 39th St, New York, NY 10016, USA
$6,000,000
$87/SF
Building Size
68,720 SF
Asset Type
Office
Closing
May 31, 2020
About this deal
AI
An office property located at 34 East 39th Street in Midtown East has been sold for a total price of $6,000,000. The property spans 6,872 square feet with a price per square foot of $873. It consists of 10 units, and the price per unit is $600,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,000,000
- Square Footage: 6,872
- Price per Square Foot: $873
- Number of Units: 10
- Price per Unit: $600,000
The seller of the property is Uzi Ruskin, while the buyer is Young-Hee Lowe. The deal was facilitated by John J. Stewart and Nicholas Biedron from NYC Building Advisors.
On the Map
$6,000,000
$87/SF
Office
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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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93