Steve Harouni Acquires Office From Bideawee In Murray Hill For $4.1M
410 East 38th Street
$4,100,000
$455/SF
Building Size
9,000 SF
Asset Type
Office
Closing
Jun 6, 2024
AI
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.
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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93