Flatiron District Office Building At 38 West 21st Street Sold For $31 Million
38 West 21st Street
$31,000,000
$450/SF
Building Size
68,808 SF
Asset Type
Office
Closing
Jun 29, 2026
About this deal
AI
The property asset involved in this transaction is an office located at 38 West 21st Street in the Flatiron District. The sale price for this asset was $31,000,000, covering a total square footage of 68,808, resulting in a price per square foot of $450.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,000,000
- Address: 38 West 21st Street
- Market: Flatiron District
- Square Footage: 68,808
- Price per Square Foot: $450
The deal was represented by Robert Knakal, Faraz Cheema, Brennan Lee, and Ryan Candel from BKREA, who were key individuals involved in facilitating the transaction.
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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93