Happy Living Development Acquires 2 Story Garage Building In Manhattan For $7M
441 W 37th St, New York, NY 10018, USA
Building Size
15,000 SF
Asset Type
Other
Closing
Apr 23, 2018
About this deal
AI
A 2-story garage building located at 441 West 37th Street in Manhattan has been sold for $7,000,000. The property, which offers 15,000 square feet of space, was purchased by Happy Living Development from D Solnick Design & Development. The sale was facilitated by broker Josh Pomerantz of HPNY.
Summary of transation details
- Property Type: 2 Story Garage Building
- Transaction Amount: $7,000,000
- Address: 441 West 37th Street, New York
- Market: Manhattan
- Total Building Square Footage: 15,000 sf
- Price per Building Square Foot: $466
Josh Pomerantz of HPNY represented the seller, D Solnick Design & Development, in the transaction.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93