Steve Harouni Acquires Office From Bideawee In Murray Hill For $4.1M
SOLD
$4,100,000
New York
See Similar DealsOffice9,000 SF
Sold 06/06/2024
SOLD
Steve Harouni Acquires Office From Bideawee In Murray Hill For $4.1M
410 East 38th Street
See Similar DealsOffice9,000 SF
Sold 06/06/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$455
Total Square Footage:9,000 SF
Transaction Type:Sale
Located in Murray Hill, Manhattan, the office property at 410 East 38th Street was successfully transacted in a sale. The asset spans 9,000 square feet and was sold at a price of $4,100,000, translating to a price per square foot of $455.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,100,000
- Buyer: Steve Harouni
- Seller: Bideawee
- Brokers: Adelaide Polsinelli & Natalie Sachmechi - Compass
Adelaide Polsinelli and Natalie Sachmechi from Compass facilitated the deal, representing both the buyer, Steve Harouni, and the seller, Bideawee. The property, situated in a prime location in Murray Hill, attracted interest due to its size and the favorable price per square foot it commanded.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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