Stellar Services Acquires Manhattan Office Building For $36M
SOLD
$36,000,000
+ 3
New York
See Similar DealsOffice55,150 SF
Sold 06/28/2022
SOLD
Stellar Services Acquires Manhattan Office Building For $36M
62 West 45th Street, New York City, New York 10036, United States
See Similar DealsOffice55,150 SF
Sold 06/28/2022
+ 3
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$652
Total Square Footage:55,150 SF
Transaction Type:Sale
Located in Manhattan, the office property at 62 W. 45th St. was recently sold in a transaction worth $36,000,000. Spanning an area of approximately 55,150 square feet, the property boasts a price per square foot of $652. The sale took place on 06/28/2022, with the buyer being Stellar Services and the seller identified as Ken Fishel.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $36,000,000
- Address: 62 W. 45th St.
- Market: Manhattan
- Size: 55,150 SF
- Price per Square Foot: $652
The buyer was represented by Dan Lolai, Eric Siegel, and Wayne Siegel from LSL Advisors. On the other hand, the seller was represented by Aaron Jungreis and Ben Khakshoor of Rosewood Realty Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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