Seavest Investment Group Acquires Office Building In New York's Market For $47.5M
SOLD
$47,500,000
New York
See Similar DealsOffice57,000 SF
Sold 06/17/2022
SOLD
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
See Similar DealsOffice57,000 SF
Sold 06/17/2022
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$833
Total Square Footage:57,000 SF
Transaction Type:Sale
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
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,533,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$168,757.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$225,174.23
Annual Debt Service$2,702,090.80
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