Jeehae Lee Acquires Office Building In SoHo, Manhattan For $16.5M
355 West Broadway, New York City, New York 10013, United States
$16,458,215
$2,743,035/SF
Building Size
6 SF
Asset Type
Office
Closing
Oct 26, 2022
About this deal
AI
The office building located at 355 West Broadway in SoHo, Manhattan has been sold in a transaction that closed on October 26, 2022. The property is zoned as M1-5A and covers a lot size of 2,192 square feet. The building has a total square footage of 6,686, with a price per square foot of $2,461. The buyer of the property is Jeehae Lee, while the seller is Shimshon Klugman. The final sale price for the office building was $16,458,215.
Summary of transaction details
- Property Type: Office Building
- Transaction Amount: $16,458,215
- Market: SoHo, Manhattan
- Zoning: M1-5A
- Square Footage: 6,686
In addition to the key property details, it's worth noting that the office building has a floor area ratio (FAR) of 3.05 and falls under Tax Class 4. The price per buildable square foot (PPBSF) is $1,501, while the price per square foot (PPSF) for the total square footage is $2,461. The property has undergone an alteration permit on May 3, 2016.
Jeehae Lee acted as the buyer in the transaction, while Shimshon Klugman represented the seller. The lot dimensions of the property are 21.92 feet by 100 feet.
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
0.96%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93