JLL Brokers Sell Hell's Kitchen Office/Commercial Condo For $4.5M
421 West 54th Street
$4,500,000
$373/SF
Building Size
12,047 SF
Asset Type
Office
Closing
Oct 10, 2023
About this deal
AI
The property involved in this transaction is an Office/Commercial Condo located at 421 West 54th Street in Hell's Kitchen, Manhattan. The property spans across 12,047 square feet and was sold for a total price of $4,500,000, resulting in a price per square foot of $374.
Summary of transaction details
- Property Type: Office/Commercial Condo
- Transaction Amount: $4,500,000
- Address: 421 West 54th Street
- Market: Hell's Kitchen, Manhattan
- Square Footage: 12,047
- Price Per Square Foot: $374
This deal was facilitated by the brokers from JLL, including Hall Oster, Paul Smadbeck, Jonathan Hageman, Braedon Gait, Conrad Martin, Teddy Galligan, Jacob Russell, Kevin Campfield, and Ryan Candel. Their expertise and negotiation skills played a crucial role in the successful completion of the transaction.
On the Map
$4,500,000
$373/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
About $373 per square foot on a published $4.5M for 12,047 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93