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Blake Partners The Straus Group And JAM Real Estate Partners Acquire Office In Hell's Kitchen For $48.02M

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SOLD
$48,018,000

New York

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Office288,502 SF
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SOLD

Blake Partners The Straus Group And JAM Real Estate Partners Acquire Office In Hell's Kitchen For $48.02M

303 West 42nd Street

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Office288,502 SF
Sold
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$166
Total Square Footage:288502 SF
Transaction Type:Sale

The property involved in the transaction is an office asset located at 303 West 42nd Street & 300 West 43rd Street in the Hell's Kitchen market. The total sale price for this asset was $48,018,000, translating to a price per square foot of $332. The total square footage of the property is 144,251.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $48,018,000
  • Address: 303 West 42nd Street & 300 West 43rd Street
  • Market: Hell's Kitchen
  • Square Footage: 144,251
  • Price Per Square Foot: $332
  • Buyer: Blake Partners, The Straus Group & JAM Real Estate Partners
  • Buyer's Representatives: Jared Pinchasick & Gary Podell
  • Brokers: Andrew Berry, Gideon Gil & Charlie Gravina
  • Brokerage Agency: Cushman & Wakefield

The key individuals involved in this transaction include Blake Partners, The Straus Group, and JAM Real Estate Partners, represented by Jared Pinchasick and Gary Podell. The brokers facilitating the deal were Andrew Berry, Gideon Gil, and Charlie Gravina from Cushman & Wakefield.

Players

Charlie Gravina
21 deals$280.6M volume
BROKER

Andrew Berry
Cushman & Wakefield
30 deals$320.9M volume
BROKER

Gideon Gil
Cushman & Wakefield
48 deals$11.1B volume
BROKER

Details

SOLD
IMAGE: Andrew Berry, Jared Pinchasick, Gideon Gil. Gary Podell & Charlie Gravina DATE: 11/19/2024 ADDRESS: 303 West 42nd Street & 300 West 43rd Street MARKET: Hell's Kitchen ASSET TYPE: Office BUYER: Blake Partners, The Straus Group & JAM Real Estate Partners - Jared Pinchasick & Gary Podell BROKERS: Andrew Berry (@AtBerry3), Gideon Gil & Charlie Gravina (@Chuckee_G) - Cushman & Wakefield (@CushWake) SALE PRICE: $48,018,000 SF: 144,251 ~ PPSF: $332

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$170,597.81
Cash-on-Cash Return-1.27%
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