Jinduck Seo Acquires Office Building In Midtown Manhattan For $23.5M
384 5th Avenue, Brooklyn, NY 11215, USA
$2,350,000
$72/SF
Building Size
32,400 SF
Asset Type
Office
Closing
Feb 7, 2019
About this deal
AI
An office property located at 384 5th Ave in Midtown has been sold for a price of $23.5 million. The property spans across 28,000 square feet with a price per square foot of $839.
Summary of transaction details:
- Property Type: Office
- Sale Price: $23.5M
- Square Footage: 28K
- Price Per Square Foot: $839
- Address: 384 5th Ave
- Market: Midtown
The seller of the property was David Zaken, while the buyer was Jinduck Seo. Representing the buyer were Elad Dror, Tony Park from PDPropertiesNYC, and Ryan Sabet.
On the Map
$2,350,000
$72/SF
Office
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Players
Brooklyn 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
6.75%
Cash-on-Cash
-1.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93