CreoDent Acquires Office Property In Midtown West For $5.85M
545 West 45th Street, Manhattan, New York, NY, USA
$5,850,000
$603/SF
Building Size
9,697 SF
Asset Type
Office
Closing
Jan 19, 2021
AI
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
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
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93