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421 West 54th Street

JLL Brokers Sell Hell's Kitchen Office/Commercial Condo For $4.5M
SOLDOffice

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

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.

Players

Jonathan Hageman

JLL

Broker

$2.6B

vol

60 deals

Broker

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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93