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7G 15 Watts Street LLC Acquires Office Building At 40 Thompson Street In SoHo For $23.1M
SOLD
$23,100,000
New York
See Similar DealsOffice30,906 SF
Sold 08/13/2025
SOLD
7G 15 Watts Street LLC Acquires Office Building At 40 Thompson Street In SoHo For $23.1M
40 Thompson Street
See Similar DealsOffice30,906 SF
Sold 08/13/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$747
Total Square Footage:30,906 SF
Transaction Type:Sale
A 30,906-square-foot office building located at 40 Thompson Street in the SoHo market of Manhattan was sold for $23.1 million, equating to a price per square foot of $747. The transaction marked a significant transfer of property within the area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $23,100,000
- Address: 40 Thompson Street
- Market: SoHo, Manhattan
- Square Footage: 30,906
- Price per Square Foot: $747
- Buyer: 7G 15 Watts Street LLC
- Seller: Steven Elghanyan
- Sale Date: 08/13/2025
The property transaction was facilitated by 7G 15 Watts Street LLC as the buyer, with Steven Elghanyan identified as the seller. The closing of this deal indicates active market engagement within the SoHo area and reflects the interests of the involved parties.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,231,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$82,069.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$109,505.79
Annual Debt Service$1,314,069.42
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