Sedesco Acquires Office Building On West 57th Street For $77.5M
SOLD
$77,500,000
+ 1
New York
See Similar DealsOffice80,000 SF
Sold
SOLD
Sedesco Acquires Office Building On West 57th Street For $77.5M
37 West 57th Street
See Similar DealsOffice80,000 SF
Sold
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$968
Total Square Footage:80000 SF
Transaction Type:Sale
Sedesco has acquired an office property located at 37 West 57th Street in New York City. The transaction took place on April 24, 2023, for a total sale price of $77,500,000. The property spans approximately 80,000 square feet, resulting in a price per square foot of $969.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $77,500,000
- Address: 37 West 57th Street, New York City
- Market: New York City
The seller's representatives for this deal were Anthony Ledesma, Paul Gillen, and Allie Boyan from Hodges Ward Elliott. On the buyer's side, the representative was Josh Augenbaum from Augenbaum Realty.
Note: No additional information available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,133,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$275,341.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$367,389.54
Annual Debt Service$4,408,674.46
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