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
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.
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