SOLDRetail
David R. Lachtman & Soly Halabi Acquire Office Building In Garment District For $49M
44 West 37th Street
$49,000,000
$924/SF
Building Size
53,000 SF
Asset Type
Retail
Closing
Dec 15, 2021
AI
The property involved in this transaction is an office located at 44 West 37th Street in the Garment District. The sale took place on December 15, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $49,000,000
- Address: 44 West 37th Street
- Market: Garment District
- Square Footage: 53,000
- Price Per Square Foot: $924
The seller's representative in this deal was David R. Lachtman, Esq., from Lachtman Cohen P.C. The broker involved was Soly Halabi from Venture Capital Properties.
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93