Capstone Equities Acquires Note On 19 West 31st Street Penn Station, Manhattan For $41M From Deutsche Bank
SOLD
$41,000,000
New York
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SOLD
Capstone Equities Acquires Note On 19 West 31st Street Penn Station, Manhattan For $41M From Deutsche Bank
19 West 31st Street, New York City, New York 10001, United States
See Similar DealsOther
Summary
NEW YORK
Asset Type:Other
Transaction Type:Sale
Capstone Equities has acquired a note in Penn Station, Manhattan for a transaction amount of $41,000,000. The note is located at 19 West 31st Street. The seller of the note is Deutsche Bank. The sale took place on December 30, 2022.
Summary of transaction details
- Property Type: Note
- Transaction Amount: $41,000,000
- Address: 19 West 31st Street
- Market: Penn Station, Manhattan
Capstone Equities, a prominent buyer in the market, was represented by their broker in this transaction. Deutsche Bank, the seller, was also represented by their broker. The transaction was completed successfully, solidifying Capstone Equities' growing presence in the Penn Station area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,186,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$145,664.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$194,360.92
Annual Debt Service$2,332,331.01
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