Blake Partners The Straus Group And JAM Real Estate Partners Acquire Office In Hell's Kitchen For $48.02M
303 West 42nd Street & 300 West 43rd Street
$48,018,000
$166/SF
Building Size
288,502 SF
Asset Type
Office
Closing
Nov 19, 2024
AI
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
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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93