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50 West 47th Street, Manhat...

E.H. Collection Acquires Office At 50 West 47th Street In Midtown Manhattan For $3.65M
SOLDOffice

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

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.

Players

Avi Ben- Ishay

Eastwood Capital Properties

Broker

$219.1M

vol

9 deals

Broker
Gary Barnett

Gary Barnett

EXTELL

Seller

$8.3B

vol

59 deals

Seller

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