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545 West 45th Street, Manha...

CreoDent Acquires Office Property In Midtown West For $5.85M
SOLDOffice

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

Michael Rudder

Rudder Property Group

Broker

$198.3M

vol

23 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

2.71%

Cash-on-Cash

-0.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93