Sedesco Acquires Office Building On West 57th Street For $77.5M
37 West 57th Street
$77,500,000
$968/SF
Building Size
80,000 SF
Asset Type
Office
Closing
Apr 24, 2023
AI
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.
Players
Market 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93