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42 East 21st Street, Manhat...

Cushman & Wakefield Sells Flatiron Package Deal For $17.4M With Buyer's Rep Nick Judson & Seller's Rep John Ciraulo
SOLDOther

Cushman & Wakefield Sells Flatiron Package Deal For $17.4M With Buyer's Rep Nick Judson & Seller's Rep John Ciraulo

42 East 21st Street, Manhattan, New York, NY, USA

$17,400,000

$692/SF

Building Size

25,145 SF

Asset Type

Other

Closing

Dec 20, 2020

AI

The package deal at 42, 44 & 46 East 21st Street in Flatiron was recently sold for a total price of $17,400,000. The property consists of three separate addresses and spans a total of 25,145 square feet. With a price per square foot (PPSF) of $693, this transaction represents a significant investment in the Flatiron market.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $17,400,000
  • Address: 42, 44 & 46 East 21st Street
  • Market: Flatiron
  • Square Footage: 25,145
  • Price per Square Foot (PPSF): $693

The buyer's representative in this deal was Nick Judson from Judson CRE LLC (@JudsonCRE). On the seller's side, the team from CGMT Hall Real Estate, Chris Greg, and Tim Hall, handled the transaction. Additionally, the seller was represented by John Ciraulo, Craig Waggner, JP Will, and Mike Kavanagh from Cushman & Wakefield. This collaborative effort between the buyer's and seller's representatives ensured a successful sale of this package deal in the Flatiron market.

Players

John Ciraulo

Cushman & Wakefield

Broker

$732.2M

vol

47 deals

Broker

New York Other Market Snapshot

Boundary boundary · Other · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.91%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93