Office Asset At 7 West 18th Street Sold For $22.75 Million In Union Square
7 West 18th Street
$22,750,000
$491/SF
Building Size
46,304 SF
Asset Type
Office
Closing
Sep 30, 2024
About this deal
AI
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.
On the Map
$22,750,000
$491/SF
Office
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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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93