@HUBBNYC Acquires Retail Condo And Parking Garage In Manhattan For $25.1M
350 W 42nd St, New York, NY 10036, USA
Building Size
43,000 SF
Asset Type
Retail
Closing
Nov 28, 2020
AI
The property involved in this transaction is a retail condominium unit and parking garage located at 350 West 42nd Street in Manhattan. The property spans 43,000 square feet with a price of $25,100,000, resulting in a price per square foot of $584.
Summary of transaction details:
- Property Type: Retail Condominium Unit and Parking Garage
- Transaction Amount: $25,100,000
- Address: 350 West 42nd Street, New York
- Market: Manhattan
The seller of the property is NY REIT, represented by Wendy Silverstein. The buyer is @HUBBNYC, represented by Johnny McCarthy and Jesse Terry. The brokerage firm involved in the deal is @RKFRetail, with Jeff Fishman as the broker.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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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