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
About this deal
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.
The retail sale at 44 West 37th Street in New York, New York sold for $49M in 2021. The building is 53,000 square feet, implying about 924 per square foot on the published price. David R Lachtman, Soly Halabi, Kassin Sabbagh Realty, Venture Capital Properties appear on the sale alongside Kassin Sabbagh Realty, Venture Capital Properties. This page is the New York, New York file for the 44 West 37th Street retail sold: pricing, party profiles, and other closed retail comps from the same New York sit in the Market section below. Filter that New York retail set by closing date to see what else sold near 44 West 37th Street around 2021. Published consideration for 44 West 37th Street is $49M, dated 2021. Cite this David R. Lachtman & Soly Halabi Acquire Office Building In Garment District For $49M sale when underwriting similar retail product around New York, New York.
Players
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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