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David Brause Acquires Office Building At 37 Union Square W From Martin Feinberg For $16.5M
SOLD
$16,500,000
New York
See Similar DealsOffice19,434 SF
Sold 06/24/2024
SOLD
David Brause Acquires Office Building At 37 Union Square W From Martin Feinberg For $16.5M
37 Union Square W
See Similar DealsOffice19,434 SF
Sold 06/24/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$849
Total Square Footage:19,434 SF
Transaction Type:Sale
David Brause has acquired an office building located at 37 Union Square W in the Flatiron District of Manhattan. The asset consists of 19,434 square feet and has been sold for $16,500,000, translating to a price per square foot of approximately $849.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,500,000
- Buyer: David Brause
- Seller: Martin Feinberg
- Square Footage: 19,434
- Price per Square Foot: $849
- Market: Flatiron District, Manhattan
In this transaction, David Brause represented the buying side, while Martin Feinberg was the seller. The deal emphasizes the activity in the Manhattan office market.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$880,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01
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