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CreoDent Acquires Office Property In Midtown West For $5.85M

Property Image
SOLD
$5,850,000
Justin Harris
Michael Rudder

New York

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Office9,697 SF
Sold 01/20/2021
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Property Image
SOLD

CreoDent Acquires Office Property In Midtown West For $5.85M

545 West 45th Street, Manhattan, New York, NY, USA

See Similar Deals
Office9,697 SF
Sold 01/20/2021
Justin Harris
Michael Rudder
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$603
Total Square Footage:9,697 SF
Transaction Type:Sale

CreoDent has purchased an office asset located at 545 West 45th Street in Midtown West. The property was sold by The McMahon Group for a total price of $5,850,000. The office space spans a total of 9,697 square feet, resulting in a price per square foot of $603.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,850,000
  • Date: 01/20/2021
  • Address: 545 West 45th Street
  • Market: Midtown West

Michael Rudder from Rudder Property Group and Justin Harris from udderPropertyGroup represented CreoDent in the transaction. The office condominium specialists at Rudder Property Group are currently marketing the 8th and 9th floors of 545 West 45th Street for sale, with each floor offering 11,252 RSF. For more information, interested parties can contact Michael directly at (212) 966-3611 or [email protected]. Additional details can be found on their website at www.rudderpg.com.

Players

Michael Rudder
Rudder Property Group
Michael Rudder
23 deals$198.3M volume
BROKER
Justin Harris
Justin Harris
12 deals$63.5M volume
BROKER

Details

SOLD
IMAGE: Justin Harris & Michael Rudder DATE: 01/20/2021 ADDRESS: 545 West 45th Street MARKET: Midtown West ASSET TYPE: Office BUYER: CreoDent SELLER: The McMahon Group BROKERS: @MichaelRudder, Justin Harris (@JustinHarris199) - @RudderPropertyGroup PRICE: $5,850,000 SF: 9,697 ~ PPSF: $603 NOTE FROM @RudderPropertyGroup: Rudder Property Group, NYC's office condominium specialists, are marketing the 8th & 9th floors at 545 West 45th Street for sale: 11,252 RSF each. For more information, please contact Michael directly: šŸ‘¤Michael Rudder ā˜Žļø (212) 966-3611 šŸ“§ [email protected] šŸŒwww.rudderpg.com

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$312,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,783.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,731.98
Annual Debt Service$332,783.81