Seavest Investment Group Acquires Office Building In New York's Market For $47.5M
355 West 52nd Street, New York City, New York 10019, United States
$47,500,000
$833/SF
Building Size
57,000 SF
Asset Type
Office
Closing
Jun 16, 2022
AI
The office property at 355 West 52nd Street in New York City has been sold for a price of $47,500,000. The transaction took place on 06/17/2022, and the property measures 55,621 square feet. The sale price per square foot was $853.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $47,500,000
- Address: 355 West 52nd Street, New York
- Market: New York
Seavest Investment Group acquired the property from Opus Magnum Inc., with the representation of broker Jeff Organisciak from Eastdil Secured.
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
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93