Windsor Management Corp. Acquires NoMad Office For $59M
44 East 32nd Street, New York, NY 10016, USA
$59,000,000
$647/SF
Building Size
91,111 SF
Asset Type
Office
Closing
Dec 9, 2018
AI
Located at 42-44 East 32nd Street in NoMad, this office property was recently sold for a staggering amount of $59,000,000. Spanning across an impressive 91,111 square feet, this asset presents a lucrative investment opportunity.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $59,000,000
- Square Footage: 91,111
- Address: 42-44 East 32nd Street
- Market: NoMad
The seller, Basset Properties LI, was represented by Michael Nelson. On the other hand, the buyer, Windsor Management Corp., was represented by Don Albert Kamie. Daniel Lolai from LSL Advisors served as the buyer's broker, while Paul Davidson, Roy Lapidus, and David Noonan from NewmarkKF represented the seller in this successful 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93