E.H. Collection Acquires Office At 50 West 47th Street In Midtown Manhattan For $3.65M
50 West 47th Street, Manhattan, NY 10036
$3,652,350
$650/SF
Building Size
5,619 SF
Asset Type
Office
Closing
Jan 4, 2022
About this deal
AI
Located at 50 West 47th Street in Midtown, the recently sold asset is an office property. The transaction took place on January 4, 2022.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,652,350
- Square Footage: 5,619
- Price per Square Foot: $650
The buyer of the property is E.H. Collection, represented by Eli Lalou. The seller, on the other hand, is EXTELL Development, with Gary Barnett as their representative. Avi Ben-Ishay from Eastwood Capital Properties served as the broker for both the buyer and the seller in the negotiations.
Please note that Avi Ben-Ishay of Eastwood Capital Properties played a key role in representing both the buyer and seller in the deal.
On the Map
$3,652,350
$650/SF
Office
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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
4.34%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93