Office Asset At 7 West 18th Street Sold For $22.75 Million In Union Square
SOLD
$22,750,000
New York
See Similar DealsOffice46,304 SF
Sold 09/30/2024
SOLD
Office Asset At 7 West 18th Street Sold For $22.75 Million In Union Square
7 West 18th Street
See Similar DealsOffice46,304 SF
Sold 09/30/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$491
Total Square Footage:46,304 SF
Transaction Type:Sale
The property asset involved in this transaction is an office space located at 7 West 18th Street in Union Square. The sale price for the property was $22,750,000, covering a total square footage of 46,304 and resulting in a price per square foot of $491.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $22,750,000
- Square Footage: 46,304
- Price Per Square Foot: $491
- Address: 7 West 18th Street
- Market: Union Square
- Brokers: Helen Hwang, Brian Szczapa & Ian Shoenfeld - Meridian Capital Group
Helan Hwang, Brian Szczapa, and Ian Shoenfeld from Meridian Capital Group represented the involved parties in this transaction, contributing to the successful closing of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,213,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$80,825.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$107,846.61
Annual Debt Service$1,294,159.28
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